Deployment of Ukrainian fiber thanks to a Ukrainian-Slovenian partnership

The two-year program of Ukrtelecom and Iskratel is financed by Slovenian banks

Kranj, Slovenia, and Kiev, Ukraine, February 10, 2022 – The first financial investment of €3 million under a €12 million national fiber deployment program aimed at bridging the digital divide across Ukraine has been spent. Ukrtelecom’s partnership with Iskratel and Slovenian banks, including state-owned bank SID, will help extend connectivity to more than 1.3 million people across Ukraine.

The investment is part of the €12 million fiber network expansion program that was launched last year to provide connectivity to 300 localities in various Ukrainian regions. The program highlights the potential of international partnerships to provide better financial terms than commercial banks are typically able to offer. The financial partnership with the banks offers long-term capital on the international market and is part of the banks’ efforts to enable Slovenian companies to expand their activities in markets outside the European Union (EU) in competitive terms.

“This marks the first step in our rollout of fiber infrastructure in Ukraine with an eye towards 60% growth in our fiber broadband subscriptions and revenues. Our cooperation with our Slovenian partners demonstrates that Ukrtelecom can find long-term capital in international markets at competitive rates and implement large-scale infrastructure projects,” said Ukrtelecom CEO Yuriy Kurmaz. “Through this effective financial partnership, we continue to accelerate the development of a modern digital telecommunications infrastructure in Ukraine, bridging the digital divide in the country and enabling the use of digital services in people’s daily lives.

The fiber network expansion program covers both rural and urban areas of the country. It uses modern and certified telecommunications equipment, which is assembled in Slovenia at Iskratel’s production centers, allowing customers to access Internet speeds of up to 1 Gbps, IPTV and other IP-based services.

“Together with Ukrtelecom and our Slovenian financial partners, the fiber network deployment program will bring greater opportunities to hundreds of communities in various regions of Ukraine,” said Iskratel CEO Robert Kuzmič. “This first investment underscores our ability to offer attractive financial terms and manage complex end-to-end projects and our intention to bring gigabit connectivity to more than 1.3 million people and 530,000 homes.”

In 2021, Ukrtelecom has deployed more than 13,600 km of new fiber optic networks and extended its GPON infrastructure to 1,200 cities and towns. Modernized networks have unleashed the full potential of digital services in the public and private sectors.

“Promoting digital transformation both at the level of individual companies and at the level of public infrastructure in Slovenia and abroad is one of the main priorities of SID banka. The Iskratel and Ukrtelecom project has been assessed as a suitable export project for SID banka financing,” said SID banka Chairman of the Board, Damijan Dolinar. “I am happy to see the Slovenian banks financing the project together, which proves that the banks are cooperating successfully for the benefit of Slovenian companies. In addition, SID banka constantly cooperates with Slovenian companies such as Iskratel, and offers them suitable financing opportunities, as well as the assurance of their ambitious business plans abroad.

For more information about Ukrtelecom, Iskratel and SID banka, please visit, and respectively.


About JSC Ukrtelecom:
JSC Ukrtelecom is one of the largest telecommunications companies in Ukraine. It offers customers across the country almost all types of modern telecommunications services on a single account. Ukrtelecom is the leading fixed Internet service provider, with the widest coverage.

The operator is implementing large-scale projects for the development and modernization of the network, provides for the replacement of copper cables with optical cables, expanding the geography of services. Every year, Ukrtelecom builds thousands of kilometers of optics. Since 2013, JSC Ukrtelecom has been part of the SCM business.

Press contact: Mikhail Shuranov, [email protected]

About Iskratel:
Iskratel is the leading European provider of communication solutions for the digital transformation of the telecommunications, transport, public safety and energy sectors. Network operators of all sizes rely on Iskratel’s durable fiber broadband access solutions, including XGS-PON/GPON OLTs and award-winning CPE devices.

Based in Slovenia, Iskratel maintains and powers its own R&D and manufacturing centers. With a local presence in over 50 countries, Iskratel is constantly expanding its footprint in the global market. Iskratel is a member of the global S&T technology group.

Press contact: [email protected] and [email protected]

About SID bank:
SID banka is both an export and development bank as well as the national export credit agency (ECA) and as such the central institution for financing the sustainable development of the Slovenian economy. The bank uses financial instruments to provide debt and equity financing, as well as methods and forms of risk management and sharing in the area of ​​market gaps, for transactions and projects at the local, regional, national and international.

By financing and insuring exports and investments abroad, SID banka provides opportunities for export transactions, reduces non-marketable risks and thus creates stable conditions for international business of Slovenian companies, which improves their international competitiveness.

Press contact: [email protected]

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