The European Bank for Reconstruction and Development (EBRD) has provided its largest loan for the Ukraine’s telecommunications, media and technology sector. The $65 million loan will finance the acquisition by Datagroup, a leading national fibre infrastructure and digital services provider in Ukraine, of Volia, the country’s leading pay-TV and cable broadband service provider in the retail segment.
The acquisition of Volia will help Datagroup build a stronger, more competitive telecommunications operator with improved quality of service and an expanded product range.
“Ukraine’s increasing digitalisation requires large-scale investments to expand coverage, accelerate speed and improve quality,” said Matteo Patrone, EBRD Managing Director, Eastern Europe and the Caucasus. “The merged entity will invest in better infrastructure, innovation and excellent customer service, making it easier for all to connect with each other.”
Under the cooperation with the EBRD, Datagroup is also committing to expand its internship programme and provide greater training and employment opportunities for young women and men.
The EBRD is the largest institutional investor in Ukraine. In the past two years alone, the Bank has committed €2 billion to the country`s economy.
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