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IOC Allocates $ 800 Million to Minimize Consequences of the Coronavirus Pandemic

The International Olympic Committee (IOC) has allocated $ 800 million that will be used to minimize the economic consequences of the coronavirus pandemic, IOC head Thomas Bach said during a teleconference.

“We decided to allocate $ 800 million to minimize the economic consequences of the pandemic. 650 million – to cover the costs associated with the transfer of the Games in Tokyo, 150 million – to the Olympic movement in general, to the federations and Olympic committees,” said Bach.

“The total amount of how much the transfer will cost is still calculated. 800 million is the contribution of the IOC, the burden that we take on. The Japanese side will support us in this,” said the president of the IOC.

According to him, we are talking about financial assistance to only 32 federations represented in the Tokyo 2020 program, because the transfer of the Games affected them.

“But we will communicate with the” winter “federations, and our joint program with the Swiss government will already apply to all federations,” said Bach.

“We work with the main sponsors of the Games 2020 on a daily basis. At the moment, we see no threat that someone will not be able to fulfill their obligations. This problem is not on the agenda. We have full support from our top sponsors, we all interested in hosting the Games in Tokyo, “the head of the IOC assured.

“The main topic of the meeting of the executive committee is the report of the Tokyo 2020 organizing committee. It is important that the Games in Tokyo be held in a safe environment for all participants. We clearly continue to follow the recommendations of the WHO. Together with our Japanese partners, we see complete readiness to hold successful Games in 2021.” – he added.

Bach emphasized that the priority for the IOC is the security of the Olympic village and Olympic facilities. “Japanese colleagues are working on this. Another point is to optimize costs, minimize the economic consequences of coronavirus in terms of the Olympics. The conditions are not easy, because the pandemic has hit everyone, and it’s not so easy to plan now, there is a lot of uncertainty. Nobody knows how tomorrow the world will look, but we are doing our best, “said the head of the IOC.

The IOC and the organizing committee of the Tokyo Games announced in March that the Olympics will be held from July 23 to August 8, 2021, and the Paralympics from August 24 to September 5. Games have been rescheduled since 2020 due to the coronavirus pandemic.

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