Ukraine plans to invest $1.6 bn for EuroBasket

Kiev, Nov 8 (IANS) Ukraine will invest around $1.6 billion for staging the 2015 European Basketball Championship, according to the government’s plan.

Out of the total investment forecast, $287.5 million will be allocated from the state budget, $3.2 million will be provided by local budgets and the remaining will be covered by private investors, reports Xinhua.

The money will fund the development of infrastructure in the host cities and preparatory works for the tournament.

The EuroBasket finals will be hosted by Ukraine in September 2015. The group matches will take place in Kiev, Odessa, Kharkov and Lvov while playoff games will be held in Dnepropetrovsk and Donetsk.

Kiev will host the final of the 24-team tournament.