{"id":764957,"date":"2023-06-21T01:26:52","date_gmt":"2023-06-21T05:26:52","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/veon-to-invest-usd-600-million-in-ukraines-recovery-company-calls-on-other-stakeholders-to-invest-in-ukraine-now\/"},"modified":"2023-06-21T01:26:52","modified_gmt":"2023-06-21T05:26:52","slug":"veon-to-invest-usd-600-million-in-ukraines-recovery-company-calls-on-other-stakeholders-to-invest-in-ukraine-now","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/veon-to-invest-usd-600-million-in-ukraines-recovery-company-calls-on-other-stakeholders-to-invest-in-ukraine-now\/","title":{"rendered":"VEON to Invest USD 600 million in Ukraine\u2019s Recovery Company calls on other stakeholders to \u201cInvest in Ukraine, Now!\u201d"},"content":{"rendered":"
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\n London, 21 June 2023<\/b>: VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a global digital operator that provides converged connectivity and online services,\u00a0today announced that it will invest, through its subsidiary Kyivstar, equivalent of USD 600 million in the recovery of Ukraine over the next three years. The investment will span Kyivstar\u2019s infrastructure projects, \u00a0ensuring essential connectivity and 4G services throughout the country, the development of superior digital services accessible to all Ukrainians, and community support projects. \u00a0<\/p>\n

The investment pledge is announced as a part of the international Ukraine Recovery Conference in London on June 21st<\/sup> and 22nd<\/sup> with a focus on mobilising international support for Ukraine’s recovery and reconstruction. Launching its \u201cInvest in Ukraine, Now!\u201d campaign, the company invites all international and national stakeholders to consider investments in Ukraine today, in order to accelerate the country\u2019s reconstruction.<\/p>\n

\u201cThe 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\u2019s resilience and recovery since the very morning of February 24th<\/sup>, 2022,\u201d said Oleksandr Komarov, CEO of Kyivstar. \u201cToday\u2019s 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 \u2018building back better\u2019 in partnership with public sector counterparts and other national and international stakeholders. We would like to \u00a0invite other companies \u00a0to invest with the same enthusiasm to contribute today to the future Ukraine .\u201d <\/p>\n

As the country\u2019s largest telecommunication company, Kyivstar has been at the forefront of Ukraine\u2019s resilience,\u00a0 maintaining essential connectivity for its customers \u2013 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. Equally importantly, Kyivstar services also benefited the wider Ukrainian population through measures including infrastructure sharing with other operators, and providing free wifi to shelters and new settlements. <\/p>\n

To enable the continuity of services, Kyivstar technical teams have skillfully performed nearly 150 thousand repairs with twice the intensity compared to the pre-conflict period, 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 black-outs. With these efforts, 93% of Kyivstar\u2019s network is operational, enabling critical communications services that continue to sustain Ukraine\u2019s society and economy. <\/p>\n

The company\u2019s work also includes supporting the cybersecurity of Ukraine, defending the cyber space against DDoS, phishing and malware attacks which intensified by 200%, 300% and 400% respectively in 2022 as compared to 2021. <\/p>\n

The USD 600 million \u00a0commitment signifies an acceleration of Kyivstar\u2019s investments in these areas in the coming three years, and will enable the continuation and expansion of these services. The new investments in network expansion \u2013 starting with \u2018LTE everywhere\u2019\u00a0 and fiberization, 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\u2019s population in 4G in three years time, including in small and remote settlements.<\/p>\n

The investments will accelerate the digitalization of the country with essential digital services as well as connectivity. Kyivstar currently serves Ukraine with a significant portfolio of digital solutions supporting the provision of essential services such as information dissemination,mobile education, and mobile health. The company recently invested in in Ukraine\u2019s leading digital healthcare provider, Helsi, which serves a registered base of 25 million customers, not only users of Kyivstar but of all operators. The USD 600 million investment will partially be used to support further development of \u00a0these services, as well as new investments into digital verticals that will make a positive social impact on the Ukrainian society.\u00a0 <\/p>\n

Another pillar of Kvivstar\u2019s support to Ukraine has been charitable support, which leverages the capabilities inherent to its business as a digital operator and a focus on giving back to the society. Since the onset of the conflict, Kyivstar supported Ukrainians with humanitarian donations amounting to UAH 1.1 billion \u2013 roughly USD 32.5 million . Within the scope of its investment pledge, Kyivstar will continue to work with leading Ukrainian NGOs and social initiatives, supporting charity projects with donations and with socially responsible business partnerships.<\/p>\n

\n About Kyivstar:<\/b>
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Kyivstar is the largest telecoms operator in Ukraine with 24.3 million mobile subscribers and over 1.1 million home internet subscribers. The company provides services based on mobile and fixed-line technologies, including 4G, as well as innovative services such as Big Data, IoT, cloud solutions, digital TV, digital health and others. The company provides the highest average speed of mobile data transmission among Ukrainian mobile operators. Kyivstar is 100% owned by the international VEON Group, headquartered in the Netherlands and listed on NASDAQ and Euronext Amsterdam stock exchanges. For more information visit www.kyivstar.ua.<\/p>\n

\n About VEON<\/b>
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VEON is a global digital operator that currently provides converged connectivity and online services to over 160 million customers in six dynamic markets, and is the 100% owner in Kyivstar. We transform people\u2019s lives, empower individuals, create opportunities for greater digital inclusion and drive economic growth across countries that are home to more than 7% of the world\u2019s population. Headquartered in Amsterdam, VEON is listed on NASDAQ and Euronext Amsterdam, and has a broad investor base. For more information, visit:\u202fhttps:\/\/www.veon.com<\/u><\/a><\/p>\n

\n Disclaimer<\/b>
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This release contains \u201cforward-looking statements,\u201d as the phrase is defined in Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. Forward-looking statements are not historical facts, and include statements relating to, among other things, VEON\u2019s and Kyivstar\u2019s initiatives in Ukraine. Forward-looking statements are inherently subject to risks and uncertainties, many of which VEON cannot predict with accuracy and some of which VEON might not even anticipate. The forward-looking statements contained in this release speak only as of the date of this release. VEON does not undertake to publicly update, except as required by U.S. federal securities laws, any forward-looking statement to reflect events or circumstances after such dates or to reflect the occurrence of unanticipated events.<\/p>\n

\n Contact Information<\/b>\n <\/p>\n