The global digital operator Veon has announced that it will invest, through its subsidiary Kyivstar, equivalent of $600 million in the recovery of Ukraine over the next three years.
The investment will span Kyivstar’s infrastructure projects, ensuring essential connectivity and 4G services throughout the country, the development of superior digital services accessible to all Ukrainians, and community support projects.
Commenting on the investment, Oleksandr Komarov, CEO of Kyivstar, said: “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.
“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”.
As the country’s largest telecommunication company, Kyivstar has been at the forefront of Ukraine’s resilience, maintaining essential connectivity for its customers – currently 24.3 million mobile and 1.1 million fixed-line users.
The new investments in network expansion – starting with ‘LTE everywhere’ and fiberisation, and eventually leading to 5G-focused reconstruction – will mean higher quality internet coverage for millions of users. 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 settlements.
The investments will accelerate the digitalisation of the country with essential digital services as well as connectivity.
