VEON and Kyivstar Raise Vital Funds for Ukraine's Demining Efforts

VEON's Crucial Initiative for Demining in Ukraine

In a significant effort to aid the recovery of Ukraine through innovative technological solutions, VEON Ltd. (Nasdaq: VEON), a leading digital operator, announced a groundbreaking partnership with its subsidiary, Kyivstar, and the Come Back Alive Foundation. Together, they have successfully raised approximately UAH 107 million, equating to USD 2.6 million, geared towards the We Live Here 2.0 project aimed at demining efforts across the country.

The Scope of the Demining Challenge

Over 140,000 square kilometers in Ukraine are currently contaminated due to landmines, creating vast safety issues for civilians and obstructing recovery efforts. According to data, landmines have contributed to 608 civilian casualties, including deaths, in a single year. This alarming statistic highlights the critical necessity for comprehensive demining initiatives. The funds generated through the We Live Here campaign will focus on providing advanced demining equipment, including Ukrainian-made robotics and drones, to ensure these operations are as effective and safe as possible.

Community and International Support

This initiative showcases a remarkable collaboration involving Ukrainian businesses, citizens, and international supporters coming together to advance the safety and wellbeing of their communities. It emphasizes the spirit of resilience among Ukrainians and their determination to reclaim and restore their territories.

Kyivstar's Pivotal Role

Kyivstar has played a crucial role in this initiative, contributing UAH 50 million (USD 1.2 million) across both phases of the We Live Here project. Their commitment is not only about financial input but also shows their dedication to supporting the people of Ukraine during these challenging times. As stated by Oleksandr Komarov, the CEO of Kyivstar, the campaign is a systematic approach to combat the dangerous presence of landmines in Ukraine and provide essential safety measures for its citizens.

Government and Philanthropic Engagement

The government's effort to de-mine the affected regions is further strengthened by private operators and philanthropic contributions. Yulia Svyrydenko, the First Vice Prime Minister and Minister of Economy of Ukraine, expressed gratitude towards partners and emphasized the heightened commitment of the government and businesses towards demining. Notably, from having no demining vehicles in the past, the situation has dramatically improved with more than 200 available today, showcasing a positive trajectory towards keeping communities safe.

VEON’s Broader Commitment to Ukraine

VEON’s support extends beyond just demining. The company has pledged USD 1 billion to enhance Ukraine's telecom infrastructure significantly. Kaan Terzioglu, Group CEO of VEON, highlighted that it is vital to assist in not just rebuilding but also ensuring safety for its citizens through various initiatives, including digital healthcare and community support programs.

Productive Collaboration for Safety

The We Live Here 2.0 initiative’s success necessitates a tripartite synergy between Kyivstar, the Come Back Alive Foundation, and governing bodies. This collaborative effort focuses on providing a comprehensive ecosystem of remote demining solutions, ensuring the protection of deminers and civilians alike. The direct benefits from the fundraising will empower newly established companies to utilize advanced technologies in the demining process, further backing local economic growth.

About Kyivstar

Kyivstar stands as the largest communications operator in Ukraine, serving over 23.3 million mobile subscribers along with over 1.1 million Home Internet customers. The company remains committed to innovation, planning a USD 1 billion investment in new telecom technologies between 2023 and 2027, and has already contributed over UAH 2 billion for various wartime support initiatives.

About VEON

As a digital operator impacting nearly 160 million customers across six countries, VEON emphasizes technology as a catalyst for transforming lives and driving economic progress. Headquartered in Dubai and listed on NASDAQ, VEON has positioned itself as a major player in telecommunications, continuously working towards enhancing digital services in every market it operates.

Frequently Asked Questions

What is the purpose of the We Live Here 2.0 initiative?

The We Live Here 2.0 initiative aims to support demining efforts in Ukraine by providing funding for advanced demining equipment and technology.

How much has VEON raised for the demining campaign?

VEON and its partners have raised approximately USD 2.6 million for their demining efforts in Ukraine.

What role does Kyivstar play in this initiative?

Kyivstar, as a leading telecommunications operator in Ukraine, has directly contributed to the funding and technological solutions for the demining project.

Why is demining crucial for Ukraine?

Demining is essential to ensure the safety of civilians, allow occupied regions to be reentered, and promote economic recovery and agricultural activities.

What technologies are being utilized in the demining process?

The project involves using Ukrainian-made robotics, drones, and other advanced technologies designed for safe and efficient mine clearance.

About The Author

Hello, I'm 30-year-old financial writer and expert Addison Perry, and I love to simplify the intricacies of the financial industry. I've committed myself over the years to deciphering the subtleties of investing techniques and economic trends and converting them into doable guidance that anybody can use. My goal with writings and books is to make money interesting and approachable so that readers may take charge of their financial futures.

My enthusiasm to empowerment and education has propelled me through my career in finance. I write because I think that everyone should be able to make educated financial decisions, and I try to provide that. Regardless of experience level with investing, my work is intended to provide insightful analysis and practical advice to enable you to thrive in the always changing financial environment. I appreciate you traveling with me toward success and financial literacy.

Contact Addison Perry privately here. Or send an email with ATTN: Addison Perry as the subject to contact@investorshangout.com.

About Investors Hangout

Investors Hangout is a leading online stock forum for financial discussion and learning, offering a wide range of free tools and resources. It draws in traders of all levels, who exchange market knowledge, investigate trading tactics, and keep an eye on industry developments in real time. Featuring financial articles, stock message boards, quotes, charts, company profiles, and live news updates. Through cooperative learning and a wealth of informational resources, it helps users from novices creating their first portfolios to experts honing their techniques. Join Investors Hangout today: https://investorshangout.com/

The content of this article is based on factual, publicly available information and does not represent legal, financial, or investment advice. Investors Hangout does not offer financial advice, and the author is not a licensed financial advisor. Consult a qualified advisor before making any financial or investment decisions based on this article. This article should not be considered advice to purchase, sell, or hold any securities or other investments. If any of the material provided here is inaccurate, please contact us for corrections.