IOC releases 1 $ billion to tackle COVID-19

News: - 17-05-20

(Lausanne) The International Olympic Committee has released an envelope of 800 million US dollars (1.1 billion Canadian dollars) to cope with the consequences of the coronavirus crisis, announced its president Thomas Bach, Thursday at a press conference.

Mr. Bach, who was speaking by videoconference after a meeting of the IOC Executive Committee, said that 650 million US (915 million Canadian dollars) would be spent on postponing the Olympic Games from Tokyo to 2021, while 150 million US (210 million Canadian dollars) would go to the Olympic movement, in particular to the international federations largely affected by the crisis linked to the coronavirus.