US to fund modernization of Ukrainian mobile operator's network and 5G development

The U.S. International Development Finance Corporation (DFC) will provide financing to Vodafone Ukraine to strengthen and modernize critical telecommunications infrastructure during the war. The project also includes the development of secure and reliable 5G infrastructure using technologies that the American corporation defines as trusted.

The DFC Board of Directors approved the project on September 16 as part of a package of new investments totalling more than $8 billion in various countries. The corporation has not yet disclosed the specific amount of financing for Vodafone Ukraine.

The DFC noted that the financing is intended to strengthen and modernize Ukraine's critical telecommunications infrastructure in wartime. Vodafone Ukraine is the country's second-largest mobile operator and is fully owned by NEQSOL Holding.

The project places particular emphasis on secure 5G infrastructure. DFC envisions that the network should increasingly be built using so-called trusted technologies – technology solutions from suppliers the United States deems secure and reliable.

The American corporation also expects U.S. companies operating and investing in Ukraine to benefit from the development of such infrastructure, as they will gain access to more secure and reliable telecommunications networks.

The financing for Vodafone Ukraine was one of two major Ukrainian projects approved by DFC as part of the new investment package. The corporation also supported DTEK's portfolio of 200 MW/400 MWh energy storage systems at six sites in Ukraine.

In 2025, Vodafone Ukraine generated revenue of UAH 25.59 billion and ranked second among Ukrainian mobile operators by this indicator. In the first half of 2026, the company's revenue grew 11% year-on-year to UAH 14.9 billion, and net profit rose 14% to UAH 1.95 billion.

Sources: DFC, Forbes Ukraine