Dubai, Dhaka, and New York, June 30, 2026: VEON Ltd. (Nasdaq: VEON), a global digital operator and the parent company of Banglalink, committed an initial USD 250 million investment over the coming years, forming part of a new initiative aimed at attracting a total of USD 1 billion in foreign direct investment (FDI) to Bangladesh, accelerating digital and financial inclusion in the country. Augie K Fabela II, Chairman and Founder of the Board of VEON, met with the Honourable Prime Minister of Bangladesh, Tarique Rahman, yesterday at the Prime Minister's Office in Dhaka.
Also present at the meeting were Faqir Mahbub Anam, Honourable Minister for Posts, Telecommunications, Information Technology and Science and Technology, and Rehan Asif Asad, the Prime Minister's Advisor on Posts, Telecommunications, Information Technology and Science and Technology. The VEON delegation also included Michiel Soeting, Member of the Board of Directors of VEON; Johan Buse, Chief Executive Officer of Banglalink; and Taimur Rahman, Chief Corporate and Regulatory Affairs Officerof Banglalink.
During the meeting, VEON outlined its vision to establish a comprehensive digital finance ecosystem in Bangladesh. Leveraging its global fintech expertise, the company aims to provide accessible digital banking, microfinance and micro insurance services to millions of underserved Bangladeshis, supporting digital and financial inclusion and helping individuals and small businesses build greater economic opportunity.
As a part of the discussions, VEON outlined the framework for launching "Invest in Bangladesh NOW", a first of its kind public private partnership proposed in collaboration with the Government of Bangladesh, including the Ministry of Posts, Telecommunications and ICT. The initiative is designed to help realise the Prime Minister's vision of expanding foreign direct investment, with an aim to attract USD 1 billion in FDI, anchored by VEON's commitment of USD 250 million over the coming years.
The proposed investment will focus on advanced connectivity, next generation digital infrastructure, digital financial services, and artificial intelligence (AI). Beyond its own investment, VEON intends to leverage its global network to encourage other international investors to explore opportunities in Bangladesh's rapidly growing digital economy.
Augie K Fabela II, Chairman and Founder of the Board of VEON Group, said: "We are a long-term partner in Bangladesh's journey toward becoming a trillion-dollar economy. Through the 'Invest in Bangladesh NOW' initiative, VEON’s USD 250 million commitment will anchor an ambitious program designed to help attract USD 1 billion in foreign direct investment. Alongside our own investment, we will actively engage international partners to unlock Bangladesh's tremendous potential. We are fully aligned with the Government's vision for digital and financial transformation and stand ready to support that vision through long term investment, innovation and partnership."
Kaan Terzioglu, CEO of VEON Group, said: "This continuous stream of investment reflects VEON's long term commitment to Bangladesh and to the high growth markets where we see digital services driving meaningful economic transformation. By anchoring this USD 1 billion initiative, we are not only committing capital but also mobilising global investment into the country's digital future. Through Banglalink, we will accelerate the rollout of next generation connectivity, scale inclusive digital financial services, and advance AI powered solutions that expand access, drive innovation, and strengthen Bangladesh's position as one of the region's most promising digital economies."
Looking ahead, VEON and Banglalink aim to deepen their digital footprint in Bangladesh by exploring new growth horizons, including digital banking, education, healthcare, agriculture, ride sharing, IoT solutions and advanced connectivity offerings such as Starlink's direct to cell technology.
About VEON
VEON is a digital operator that provides connectivity and digital services to over 150 million connectivity customers and more than 228 million digital users. Operating across five countries that are home to more than 6% of the world's population, VEON is transforming lives through technology driven services that empower individuals and drive economic growth. VEON is listed on Nasdaq. For more information, visit: https://www.veon.com.
About Banglalink
Banglalink, the country's leading digital operator, places people at the heart of everything it does. Guided by a people first approach rooted in care, Banglalink works to make digital and financial services more accessible and meaningful in everyday life, ultimately making a better life for all. The company offers a range of digital solutions, including the MyBL super app, the country's largest entertainment platform Toffee, and RYZE, the country's first AI powered digital lifestyle brand for youth. Banglalink is a fully owned subsidiary of VEON, a Nasdaq listed global digital operator headquartered in Dubai.
Forward Looking Statements Disclaimer
This release contains “forward-looking statements”, within the meaning of the Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. Such forward-looking statements include, but are not limited to, statements relating to VEON’s and its subsidiaries’ strategic ambitions and partnerships, including in relation to VEON’s investment plans in Bangladesh. There are numerous risks, uncertainties that could cause actual results and performance to differ materially from those expressed by such statements, including risks relating to VEON’s strategic ambitions, among others discussed in the section entitled “Risk Factors” in VEON’s 2025 Form 20-F filed with the SEC on March 16, 2026 and other public filings made by VEON with the SEC. The forward-looking statements contained herein speak only as of the date of this release and VEON disclaims any obligation to update them, except as required by law.
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