Cost of Euro-2012 organization pulled down by 36 billion
On July, 8th Government will consider the updated plan on organization and hosting of Euro-2012 in Ukraine, Delo newspaper reports.
According to the plan Euro-2012 costs 127 bln hryvnyas now.
The document is developed by the Ministry of Economics. The previous plan approved of in February, 2008 assumed overall financing volume for European Championship organization would make 163 bln hryvnyas.
The new plan previews 127 bln for Euro-2012 where 33.4 bln are to be allocated from the state budget. Local authorities should sponsor Championship organization with 6.8 bln and the lion’s share of expenses will fall on private investors (87.2 bln hryvnyas).
If to compare with the previous plan, financing of the Championship organization increased from the state budget due to assignments from Equalization fund and also owing to the law ratified by Verkhovna Rada last week, binding National Bank to transfer almost 10 bln hryvnyas for the needs of Euro-2012 in 2009.
Essential estimate reduction for the Championship is primarily related to the fact that Odessa and Dnepropetrovsk dropped out of the struggle for the right to host matches of Euro-2012.
“Changes are drawn by new UEFA requirements which concern only four cities, instead of six as it was before”, - makes it clear Ilya Shevlak, Head of the Coordinating Bureau on organization and hosting of Euro-2012 in Ukraine. Besides savings were possible owing to canceling of the major circular road construction which would cost 10.4 bln hryvnyas.
Virtually 90 % of all means destined for building and reconstruction of the hotels (39 out of 40 bln hryvnyas) will be allocated by investors. All in all it’s necessary to build 37.56 thousand suites in four host-cities out of which 20.7 thousand in Kiev.
Lvov’s already beaten the UEFA target on hotel accommodation. The city needs to have 2335 suites in 4 and 5-star hotels, whereas 2622 suites are available at the moment.
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