13:14, 25 December 2013

Russian Govt allocates additional 1.6 billion roubles for 2014 Olympics

Railway station in Sochi. Photo by Tatiana Ukolova for the ‘Caucasian Knot’.

The Russian Cabinet of Ministers has decided to increase subsidies for the Sochi Olympics in the amount of 1.6 billion roubles. The money is allocated for the organization of the 22^nd Winter Olympic Games and the 11^th Paralympic Winter Games.

After adoption of the document that was posted on December 25 in the database of normative and administrative acts, the Russian government has increased the total subsidies issued to the Organizing Committee of the Olympics up to 13.85 billion roubles.

The additional financial resources will be spent to host the Olympic and Paralympic Games, and to financial support of the "Sochi 2014" Organizing Committee, the RIA "Novosti" reports.

The "Caucasian Knot" has reported that on September 3 Russian President Vladimir Putin said that in total 214 billion roubles would be spent for the preparation for the Olympic Games in Sochi, of which the state allocates 100 billion roubles. Earlier, state officials estimated the costs at more than 1.5 trillion roubles, which was sharply criticized in the blogosphere.