Golden Telecom



Project number:


Business sector:

Information and Communication Technologies

Notice type:


Environmental category:


Approval date:

07 Sep 1999



PSD disclosed:

16 Aug 1999

Project Description

An equity investment in Golden Telecom Inc., a leading provider of integrated telecommunications services to businesses and other high-usage customers in Moscow, Kiev and other cities in the CIS.

As a cornerstone investor, the EBRD would support the development and successful listing of a leading alternative telecommunications operator in the CIS region providing local customers with competitive local exchange carrier (CLEC), broadband data, cellular and Internet services.

Transition Impact

The EBRD would also promote sustainable telecommunications network expansion, and foster the emergence of innovative and advanced services that are crucial for the overall competitiveness of businesses within the CIS region. The investment would help promote competition and stimulate customer choice in Ukraine, Russia and other CIS countries by facilitating the development of competitive local exchange carriers, data and long-distance operators, and mobile operators in those countries.

The Client

Golden Telecom is a leading facilities-based provider of integrated telecommunications services to businesses and other high-usage customers and telecommunications operators in Moscow, Kiev, St Petersburg and other cities in the CIS.

EBRD Finance

An equity investment in Golden Telecom as part of an Initial Public Offering on the NASDAQ market scheduled for completion in the fourth quarter of 1999.

Project Cost

Total offering size will depend on market demand.

Environmental Impact

The project has been classified as B/O. The analysis examined the environmental issues associated with construction and operations, public participation, nature protection, use and disposal of hazardous materials and obsolete equipment. Golden Telecom has all necessary permits required for operation of the project.

Technical Cooperation



Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168

Public Information Policy (PIP)

The PIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations. Please visit the Public Information Policy page below to find out how to request a Public Sector Board Report.
Text of the PIP

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