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Cisco adds smart city financing, eyeing a potential $400bn market

In a new twist on traditional telecoms vendor financing, Cisco has announced a scheme to help fund smart city initiatives. The company’s Capital arm is working with other investors and lenders to launch the City Financing Acceleration Program, to help municipalities spread the financing load rather than have to justify a significant upfront capex sum to their taxpayers and citizens. “Funding is a major stumbling block for municipalities beginning their smart city transformation,” said Anil Menon, global president of Cisco’s Smart+Connected Communities program. “With our partners, Cisco will bring the capital and expertise it takes to make smart city projects a reality. Digital Alpha, APG, and Whitehelm Capital bring a fresh perspective on investment in an area that has previously…

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