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RUSSIAN FEDERATION : USAID signs $50 million deal with Cisco Systems
Publish Date : 17-Oct-2011
United States Agency for International Development (USAID)has sign an agreement with global technology giant Cisco Systems. The deal is the biggest partnership the organization\'s Russian arm has ever concluded. The deal is valued at $50 million.
Under the deal, Cisco Systems will make a direct financial contribution between $30 million to $40 million. It will also make available staff and in-house services for technology related services, training centers and other projects across Russia. All these efforts will be made to increase technical skills and grow the high-tech share of the country\'s gross domestic product. A total of $9 million will be committed by USAID.
Charles North, head of USAID in Russia, said, “We\'ve been leading the way for the agency. But globally this is something we\'re emphasizing — working together, leveraging other base forces and expertise; it\'s everything from working with energy companies to working with Sesame Street.”
According to Mikhail Pakhomov, director of government affairs at Cisco Systems in Russia, the high-technology industry occupied 1 percent to 2 percent of Russian GDP. The official added, “Our direct interest is that this share increases, but we cannot increase it if there are not enough highly qualified specialists and enterprises.”
