In Southern Ukraine, EBRD and EU help local ISP secure enhanced network access

Established in the city of Kryvyi Rih (Krivoy Rog) since 2010, IT-Invest provides high-quality broadband Internet services using fibre-optic. It serves more than 2,400 organizations and 4,800 households. 

To ensure uninterrupted local network access, the company has purchased machinery with support from the EBRD, the European Union and OTP Leasing. As the result of the investment, IT-Invest claims to have grown its subscriber base by 15% and increased customer satisfaction.

IT-Invest benefits from the EU4Business-EBRD Credit Line, a program available to SMEs in Ukraine and other  countries of the EU’s Eastern Partnership: Armenia, Azerbaijan, Belarus, Georgia and Moldova.Access to EBRD funding is coupled with incentive grants from the EU under its EU4Business initiative.

Through partner financial institutions – OTP Leasing, in the case of IT-Invest – the credit line helps companies boost competitiveness and upgrade standards. 

In Ukraine, more than 280 Ukrainian businesses in sectors from manufacturing to agriculture and from construction to telecommunications have already benefitted from this joint financing program. More than 90% of projects in Ukraine are undertaken outside its capital Kyiv.  

Source: EBRD

Topics: Finance, International, Internet, News, Regions
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