EuroBasket 2015 to cost Ukraine over UAH 7bn (USD 0.9bn).

By bne IntelliNews February 11, 2013
EuroBasket 2015 may cost Ukraine over UAH 7bn (USD 0.9bn). The funds are needed for the reconstruction of the Sports Palace in Kyiv, the creation of training grounds for national basketball teams and the construction of respective infrastructure, according to a strategy for the development of national sports infrastructure for the EuroBasket 2015 European Basketball Championship, which was presented at a meeting of the coordinating committee by Deputy Prime Minister Oleksandr Vilkul. According to him, state funding will amount to UAH 7.057bn, while private investment will exceed UAH 4bn. This amount will be used for the reconstruction of the Sports Palace in Kyiv (UAH 200mn), the creation of training grounds for national basketball teams (UAH 782mn), the compensation for interest rates on bank loans (UAH 1.1bn), the construction of new runways at airports in the cities of Odesa and Dnipropetrovsk (UAH 3.4bn), and the development of the existing infrastructure in the cities that will host the championship (UAH 1.4bn). Vilkul also noted that the funds would mostly be allocated by investors.

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