Global digital operator VEON, together with Kyivstar, has announced an investment of $600 million over 2024-2026 to rebuild Ukraine. The announcement was made during the company's visit to Kyiv last week.
A delegation consisting of VEON founder Auggie Fabela, VEON Group CEO Kaan Terzioglu, and Kyivstar Supervisory Board member and U.S. Secretary of State Mike Pompeo recently met in Kyiv with the Head of the Office of the President of Ukraine Andriy Yermak, U.S. Ambassador to Ukraine Bridget Brink and Deputy Ambassador of the Netherlands to Ukraine Esselin Van Erten .
As part of the continuation of the campaign "Invest in Ukraine NOW!" VEON and Kyivstar held a business investment forum "B2U: Business to Ukraine" in Kyiv. During the event, more than 100 leading Ukrainian business representatives discussed how to improve the investment climate in the country, which will facilitate the inflow of international business to Ukraine, strengthening the country's economic resilience.
Mike Pompeo said that he believes in Ukraine's victory and the US support for it, regardless of the next president. He also called Kyivstar a "great model" for Western investment that Ukraine will need to rebuild its economy.
"Regardless of who wins the presidential election in a few months in the United States, we will provide the necessary tools for Ukraine to win. It is important for Europe, it is important for my country. The good guys have to win, and the good guys are the Ukrainian people," Pompeo said. He stated that it is unacceptable for a dictatorship to win, because "the world will be in a very bad state.
Kaan Terzioglu, CEO of VEON Group, emphasized that the company had no doubt about the need to support Ukraine and close its business in the territory of the aggressor state.
"Since the first days of the full-scale war , VEON has been helping Ukraine. I would like to thank our international investors for supporting our exit from the Russian market, which we implemented back in October 2023, and for their unwavering focus on investing in Ukraine, including a commitment of USD 600 million. We will work around the clock to ensure a victorious, successful and inspiring future for the country," Terzioglu emphasized .
"Thanks to the support of our founding company VEON, the vision of the Kyivstar Supervisory Board, which with the addition of Mr. Secretary Pompeo is now stronger than ever, as well as the unwavering commitment of our 4000 team of professionals and the continued gratitude of our 24 million customers, Kyivstar is the best example of a company that is taking on the challenge of rebuilding Ukraine today, overcoming all difficulties and never losing focus," added Kyivstar CEO Oleksandr Komarov.
Mike Pompeo also held a personal meeting with Kyivstar's team, during which he said he was impressed by the resilience of the company's team, which overcame the consequences of an unprecedented hacker attack and resumed providing services.
"I am sincerely glad to be back in Kyiv - now as part of the VEON family, as a member of the Supervisory Board of Kyivstar. Ukraine must win this war not only on the battlefield but also economically. Private business, in particular international investors, play a crucial role in securing this victory, which I am sure all shareholders understand and appreciate. I am inspired by the incredible commitment of VEON and Kyivstar, as well as other private sector businesses, who continue to faithfully serve the people of Ukraine against all odds," Pompeo concluded.
Last year, Kyivstar invested at least $174 million in capital investments and expects to expand the scale of future investments from $600 million over three years to $1 billion over five years under favorable market conditions.