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Nikita Sharma
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Asked a question 2 years ago

Which committe creates 800 million dollar fund to address COVID-19 crisis.?

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The International Olympic Committee said  it had created a fund of USD 800 million to tackle the financial hardships created by the coronavirus pandemic which has forced the postponement of this year's Tokyo Olympic until 2021. IOC president Thoma Bach said the body had released "an envelope of up to USD 800 million to address the financial consequences of this COVID-19 crisis".

The envelope has two parts: USD 650m (602 million euros) which "refers to the cost of organisation" of the postponed Games; and USD 150m as an aid package for the Olympic movement, in particular international federations and Olympic committees.