Veon pledges US$600m to aid in Ukraine’s recovery

Veon pledges US$600m to aid in Ukraine’s recovery

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Veon has announced plans to invest the equivalent of US$600 million in the recovery of Ukraine over the next three years, all through its subsidiary Kyivstar.

The investment will cover Kyivstar’s infrastructure projects, delivering essential connectivity and 4G services across the country, as well as the development of digital services accessible to all Ukrainians, and community support projects.

The announcement was made as a part of the international Ukraine Recovery Conference in London this week. During which, Veon unveiled its 'Invest in Ukraine, Now!' campaign, inviting all international and national stakeholders to invest in Ukraine to support the country’s reconstruction efforts.

“The past 16 months have shown the world that communications are indeed the lifeline of Ukraine. With the dedication of our 4000-strong team, and the support of our parent company VEON, Kyivstar has been central to Ukraine’s resilience and recovery since the very morning of February 24th, 2022,” said Oleksandr Komarov, CEO of Kyivstar.

“Today’s sizeable investment commitment signifies not only a continuation of our track record, but also an acceleration of our investments. At a time when many others are refraining from making future plans, we proudly commit to ‘building back better’ in partnership with public sector counterparts and other national and international stakeholders. We would like to invite other companies to invest with the same enthusiasm to contribute today to the future Ukraine.”

The US$600 million commitment will fund new investments in network expansion – starting with ‘LTE everywhere’ and fibreisation, and eventually leading to 5G-focused. With the planned expansion of 4G networks, Kyivstar plans to cover 98% of Ukraine’s population in 4G in three years' time, including in small and remote areas.

The investment will also partially be used to support further development of essential services such as information dissemination, mobile education, and mobile health which the company currently offers, as well as new investments into digital verticals that will make a positive social impact on the country.

To date, Kyivstar has been maintaining essential connectivity for its customers – currently 24.3 million mobile and 1.1 million fixed-line users. In partnership with fellow operators, it enabled Ukranians to remain connected to their home country with roam-like-home offers, currently serving 2.5 million mobile customers in roaming.

Since the onset of the conflict, Kyivstar has made humanitarian donations amounting to UAH 1.1 billion – roughly US$32.5 million.

While its technical teams have carried out nearly 150 thousand repairs, reconnected 800 settlements, upgraded and deployed nearly 10,000 4G base stations, and installed 32,000 new batteries to ensure continuity of communication during energy blackouts.

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