Kyiv won't finance the events meant to prepare for EuroBasket 2015, Head of Kyiv City State Administration Volodymyr Bondarenko has said.

"Kyiv's budget today has a hole of UAH 2.8 billion, that's why we need to search for opportunities. Yesterday we were considering a program for social-economic development and I initiated removal from agenda all facilities of EuroBasket 2015," he said at the press conference on Thursday.

"I know why are these 'Baskets' and 'Euro' [championships] being carried – apart from sports competitions, this is a huge system of embezzlement of a great financial resource, which is based on the tender-free purchase of goods and services, that was a reason to cancel 'Basket'," the mayor added.

According to Bondarenko, it will help to save several tens of millions, which instead could be spent for aid to refugees from Crimea, and to finance events on mobilization and training of the National Guard.