The state funding of preparation for the European Basketball Championship will cost 7.057 billion UAH, deputy Prime Minister Oleksandr Vilkul said at today's meeting of the coordinating committee on preparations for EuroBasket-2015 chaired by President of Ukraine Viktor Yanukovych.

According to him, the amount of private investment will amount to more than four billion UAH.

"Private investors are responsible for the financing of construction of necessary sports infrastructure under the state and private partnership. The government fulfilling the tasks set by the President is creating favorable conditions to attract international and domestic investors. The private investors finance fully the construction of six new sports arenas (Kyiv, Donetsk, Dnipropetrovsk, Odesa, Lviv and Kharkiv). The total amount of private investment will exceed four billion UAH, including 25% funds of private investors and 75% of credit funds that investors take from banks," the deputy Prime Minister said.

According to him, the investors will return the principal amount of loan to banks during five years, and "the state will help compensate interests." Vilkul did not specify the estimated amount of interests that the state will pay off.

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