On October 16, the Cabinet of Ministers adopted amendments into the State Program of Preparation to Hosting Euro-2012, which stipulates financing of all preparation works at 160 billion hryvnias [~20 billion euros].

According to UNIAN, deputy Economics Minister of Ukraine Yuri Vitrenko claimed this to a press conference on Tuesday.

According to him, out of the total of expenses, 27.5 billion hryvnias [~EUR 3.5 billion](17.3%) will be financed from the state budget, 22.9 billion hryvnias [~EUR 2.8 billion] (14.3%) – from local budgets, and 109.5 billion hryvnias [~EUR 13.6 billion](68.4%) will be financed at the expense of investors.

In particular, in 2009, it is planned to spend 36 billion 250 million hryvnias [~EUR 4.5 billion] on the preparation to the tournament.

Yuri Vitrenko also disclosed that, basing on the state program, all Ministries and host cities have worked out their own detailed programs, which will be annually updated basing on the achieved results.


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