COVID-19: Cisco announces $2.5 bn financing programme

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San Francisco: Networking giant Cisco on Tuesday launched a $2.5 billion financing programme to help its customers and partners meet challenges arising due to the COVID-19 pandemic.

The programme will provide organisations with access to the solutions they need to keep their businesses running and productive, their employees safe and support their communities during these unprecedented times.

This includes investing for recovery and deferring 95 per cent of the cost until January 2021.

Starting in January 2021, customers would then make a monthly payment based on the total financed amount and the remaining term of the financing.

“Cisco’s customers and partners are under enormous pressure to keep their businesses connected while remaining productive and secure,” Chuck Robbins, Chairman and CEO of Cisco, said in a statement.

“Whether it’s technology, financing or helping those most in need, Cisco is committed to working together to fight this pandemic on every front,” he said.

All Cisco solutions are eligible for this programme, including hardware, software and services as well as up to five percent of partner provided services, such as installation, the company said, adding that the programme also offers support to Cisco’s 60,000 partner ecosystem.

The “Business Resiliency Program” from Cisco Capital is part of Cisco’s overall commitment to supporting customers, partners and communities through the COVID-19 pandemic, said the company.

Cisco recently committed $225 million in cash, in-kind, and planned-giving to support both the global and local response.

This includes technology and financial support for non-profits, first responders and governments.

Cisco is also empowering customers and partners with its free Webex and security offers, enabling them to stay securely connected and productive during this time.

(Agencies)