IOC Gives Preliminary Go-Ahead For Ukraine's 2022 Olympics Hosting Bid

KIEV, Ukraine -- The International Olympic Committee examined the documents Ukraine provided on the Carpathian Mountains as a hosting location for the upcoming XXIV Olympic Winter Games in 2022.

President of the IOC Jacques Rogge

Preliminary conclusion of the committee is positive, informed the Prime Minister of Ukraine Mykola Azarov after meeting the President of the IOC Jacques Rogge on July 27th - at the opening ceremony of the London 2012 Summer Olympics.

According to Azarov, the IOC President noted Ukraine's successful contribution to the European Football Championship as its host in 2012, and considered such experience helpful for producing a high quality application for hosting winter Olympics.

While Olympic Games is a larger event than EURO, Ukraine still has ten years to prepare, stated Rogge.

"Our Carpathians conform to the norms of [the IOC] for a Winter Olympics host," said Azarov.

He added that Rogge encouraged Ukraine to place the bid for hosting Olympic Games in 2022.

Talking to the journalists, Ukrainian Prime Minister expressed hope that Ukraine hosting Olympics would boost sports in Ukraine.

Ukraine started its preparations for hosting winter Games in late 2010.

The country launched a National Project Olympic Hope, aimed at preparing the country's infrastructure for the application requirements.

The project's estimated worth is USD $10 billion.

Throughout 2011 the government conducted analysis of available infrastructure, assessed the necessary construction works, and determined the proportion of state and private investment in the project.

In 2012 detailed investment projects will be finalized, while by mid-2014 Ukraine is set to be fully ready for the application for hosting XXIV Olympic Winter Games.

In 2015 the IOC will evaluate all applications, and start visiting the potential hosting cities.

Ukrainian National Project Olympic Hope is set to create one of the largest ski resorts in Eastern Europe and help develop tourism infrastructure in the region.

The project is also an attractive investment opportunity with the state financing Olympic infrastructure while private investors will be awarded a chance to fund tourism infrastructure.

The western Ukrainian cities of Lviv, Slavske, Stryi, Trostian, Truskavets, Tysovets, and Volovets have been identified as possible hosting locations for 2022 Winter Olympics.

Other cities that might compete for the right to host the competition include Denver, Geneva, Montreal, and Zurich.

Source: Yahoo Finance