May 20, 2020
By Sahr Morris Jnr
The National Olympic Committee of Sierra Leone, NOC-SLE could be one of the beneficiary National Olympic Committees in the World to benefit from the International Olympic Committee (IOC) aid package of up to USD 150 million.
An official statement from the IOC anticipates that they will have to bear costs of up to US$ 800 million for its part of the responsibilities for the organisation of the Olympic Games Tokyo 2020, its own extended operations and the support for the wider Olympic Movement.
“The IOC, as the leader of the Olympic Movement, is playing a critical role in supporting its stakeholders during the COVID-19 outbreak. To stand in solidarity with the Olympic Movement, it has also put together an aid package of up to USD 150 million, from which the IFs, NOCs and IOC-Recognised Organisations can benefit. This funding is meant to help them continue their mission to develop their sports, prepare for the Olympic Games and support their athletes. The IOC and its stakeholders are still going through the analysis process to assess the needs on a case-by-case basis,” the IOC statement reads.
It was previously announced that Olympic Solidarity has increased the budget for its athlete programmes by USD 15 million, which covers scholarships for over 1,600 athletes from 185 NOCs and the IOC Refugee Olympic Team.
Olympic Solidarity had also increased the budget for IOC subsidies for the participation of NOCs in the Olympic Games by USD 10.3 million. This additional budget will allow Olympic Solidarity to make available additional funds relating to exceptional Games-related costs incurred by NOCs due to the postponement of the Olympic Games Tokyo 2020.
President of IOC, Thomas Bach said: “The Olympic Movement is facing an unprecedented challenge. The IOC has to organise postponed Olympic Games for the first time ever, and has to help its stakeholders come through this global crisis. This new situation will need all our solidarity, creativity, determination and flexibility. We shall all need to make sacrifices and compromises. Extraordinary circumstances call for extraordinary measures. This situation requires every one of us to do our part, and this applies to all of us, including the IOC. With today’s financial plans, we are addressing these needs.”
The aid package of up to USD 150 million for the Olympic Movement, including the International Federations (IFs), the National Olympic Committees (NOCs) and the IOC-Recognised Organisations, to enable them to continue their sports, their activities and their support to their athletes. Today, the IOC Executive Board (EB) approved this financial plan.