VEON - VEON and Kyivstar increase Ukraine investment commitment to USD 1 billion attend Ukraine Recovery Conference in Berlin | Benzinga
Berlin and Kyiv, 10 June 2024: VEON Ltd. (NASDAQ:VEON, Euronext Amsterdam: VEON)), a global digital operator that provides converged connectivity and online services, announces that VEON, through its 100%-owned subsidiary Kyivstar, plans to increase its commitment to rebuild Ukraine's digital infrastructure to USD 1 billion over the five-year period from 2023 through 2027. This is an increase from the previously announced USD 600 million investment commitment for the three-year period between. The commitment will fund investments into network and digital services, including potential acquisitions or the development of new assets, social contributions and partnerships.
The Chairman of VEON board of directors and VEON founder Augie Fabela, VEON and Kyivstar board member and former U.S. Secretary of State Michael R. Pompeo, and Kyivstar CEO Oleksandr Komarov will attend the Ukraine Recovery Conference 2024 in Berlin later this week, to highlight VEON's and Kyivstar's current contributions to Ukraine's resilience as well as VEON's future commitment to the rebuilding and restoration of Ukraine, including the aforementioned upgraded investment plan.
"VEON and Kyivstar support Ukraine's resilience, recovery and reconstruction in every possible way, from meeting the vital connectivity needs of the country to serving the population with digital capabilities, from futureproofing our network with OpenRAN partnerships to ensuring energy resilience and continuity, from supporting Ukrainian businesses today to investing in the country's digital ecosystem for the future. Having seen the support of VEON's international investors, I am proud to note that Kyivstar is a significant example of how a socially responsible business with international investors can support a country through war." said Oleksandr Komarov, CEO of Kyivstar. "With the power we take from our own example, we will join the call at the Ukraine Recovery Conference 2024 for businesses to invest in Ukraine and invest now! I'm happy that we will ...