The Government of Ukraine has approved a new State Target Programme for the preparation for and holding EURO 2012 in Ukraine having increased the total amount of its financing by almost UAH 16 bln (approx. EUR 1.7 bln) to reach almost UAH 142 bln (approx. EUR 15 bln).
The increase is provided in the Resolution issued by the Cabinet of Ministers No. 357 dated 14 April 2010 that came into force on 29 May 2010.
The Resolution repeals the State Programme (Resolution No. 107 dated 22 February 2008) approved by the previous government and all amendments thereto.
The sources added to the State Programme financing include the funds of state support amounting approximately to EUR 3.1 bln to be allocated in 2010 and 2011 – approximately EUR 1.4 bln and approximately EUR 1.7 bln, accordingly.
While the previous allocations by the Cabinet of Ministers for 2010 totalled approximately EUR 3.4 bln, the new State Target Programme provides for approximately EUR 5.2 bln.
According to the Resolution, the implementation of the State Target Programme will allow attracting approximately over EUR 8.4 bln in investments, including approximately EUR 5.3 bln in private investments for the construction and reconstruction of sports facilities, the construction of transport infrastructure and accommodation infrastructure.
The State Target Programme's expected entire tax contribution to the budgets will reach approximately EUR 2.9 bln.
The Government instructed all agencies and cities hosting the Championship to render the tasks, indicators and measures provided in industry and regional programmes in compliance with the new State Target Programme.
Law: The Resolution of the Cabinet of Ministers of Ukraine No. 357 dated 14 April 2010 "On State Target Programme for the Preparation for and Holding in Ukraine of the Final Part of the Football European Championship EURO 2012", came into force on May 29, 2010.
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The original publication date for this article was 08/06/2010.
