Vice Premier of Ukraine Oleksandr Vilkul has said that private multi-functional arenas build to host European Basketball Championship 2015 could be used to organize competitions in numerous kinds of sports, concerts by world stars, and big international exhibitions.

"These arenas will be private. The arenas where matches of EuroBasket 2015 will be held, could host competitions at any level in 100 kinds of sports: hockey, handball etc. In addition, it's also possible to hold concerts of any level in them. In order for such stars as Madonna, Britney Spears and Deep Purple to visit us more often, we need the big halls, with 10,000 or 15,000 seats. Moreover, any exhibitions of world class could be put on display there. In Europe and the United States complexes of such type are occupied 280-290 days in year, so they constantly work," he said at Channel Five TV channel.

Vilkul said that a definite state-private partnership model was put into the concept for preparing for and holding EuroBasket 2015.

"There are serious investors, who have confirmed their participation in financing this project. According to the concept of the International Basketball Federation we need seven halls to hold the competitions. Six multi-functional arenas will be built, a complete reconstruction of the Palace of Sports in Kyiv and Meteor in Dnipropetrovsk will be done," he said.

The vice premier said that private investors will provide 25% of the funds to build the arenas, and 75% of the total will be credits from banks.

"Later the state will cover the interest payments on these credits, while the investors pay off the credit itself," he explained.

According to him, UAH 3.5 billion of the UAH 7 billion required for preparations for EuroBasket 2015 will be spent on airport runways.

"We'll reconstruct two airports: in Odesa and Dnipropetrovsk, where a private investor builds the terminal, and the state builds the strip. And they will belong to state. They will be owned by Ukraine, and will serve the state for 50 years," he said.

As Ukraine's deputy premier reported, an extra UAH 1.4 billion will be allocated to direct subventions to the cities that host EuroBasket to improve their infrastructure.

"The cities will spend this money on their roads and equipping themselves with services and utilities. Could we say that these are direct expenses to hold EuroBasket? These are investments into the infrastructure. By the highest standards, the direct expenses for EuroBasket are UAH 1 billion to cover interest payments on credit to stimulate the creation of the new branch, which will pay tax, and about UAH 1 billion in total investments in building of sports complexes, where later there will be children's and youth sport schools," he added.