Cisco (CSCO) Launches “City Infrastructure Financing Acceleration Program”
Cisco ( NASDAQ : CSCO ) recently announced at the Smart City Expo World Congress held in Barcelona, Spain, that they have launched the City Infrastructure Financing Acceleration Program, a $1 billion program aimed to make it easier, faster, and more affordable for cities around the world to fund and adopt technologies that will transform their communities. The funding will be provided through Cisco Capital® in partnership with private equity firm Digital Alpha Advisors and pension fund investors APG Asset Management (APG) and Whitehelm Capital. The program helps cities assemble the right type or suite of finance instruments to fund and deploy innovative technology with minimal initial investment. Whether a city is looking to reduce energy usage, ease traffic and parking, or boost public transportation ridership and revenues, the program will help cities with solutions. Revenue-share financing, for instance, even allows a city to tie financing to desired outcomes and extend future operating budgets through revenue streams from the new services that a digitized infrastructure makes possible.
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