The International Olympic Committee, on 14 May 2020, during one of its executive commission sessions, adopted a financial plan aimed at assisting partners during this period when the sport economy is facing tough times due to the coronavirus. Thus, the IOC expects to bear costs of up to U.S. $ 800 million as its share of responsibility for the organisation of the Olympic Games “Tokyo 2020,’’, the extension of its own activities and support to the Olympic movement as a whole. The amount shall be borne by the OIC itself, with a possible contribution from the Olympic Foundation.
The said budgetary package includes expenses for the organisation of the postponed games totalling up to U.S. $ 650 million for the IOC, as well as a financial package for the Olympic Movement to the tune of U.S. $ 150 million mainly for International Federations, National Olympic Committees and Organisations recognised by IOC, to enable them sustain their sports, their activities and support to their athletes. As the leading body of the Olympic movement, the IOC plays a key role in assisting partners in this Covid-19 era. In the same vein, the Swiss Federal Council decided to support International Sports Federations with headquarters at Switzerland through a joint programme with the IOC.