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Tokyo Games cost-sharing agreement reached

Of the total, the metropolitan government will shoulder 120 billion yen, the Japanese government 71 billion yen and the organizing committee 103 billion yen. (AFP)
Of the total, the metropolitan government will shoulder 120 billion yen, the Japanese government 71 billion yen and the organizing committee 103 billion yen. (AFP)
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04 Dec 2020 09:12:27 GMT9
04 Dec 2020 09:12:27 GMT9

TOKYO: The Tokyo metropolitan government, the Japanese government and the organizing committee for the Tokyo Olympics and Paralympics reached an agreement Friday on how to share additional costs for the delayed games.

The additional costs will total 294 billion yen. Of them, 96 billion yen will be for measures to prevent coronavirus infections and 198 billion yen for costs related to the one-year delay in the Tokyo Games to summer 2021.

Of the total, the metropolitan government will shoulder 120 billion yen, the Japanese government 71 billion yen and the organizing committee 103 billion yen.

The agreement came after the total costs of the games were reduced by about 30 billion yen through efforts to simplify the event.

Of the amount covered by the organizing committee, 27 billion yen will be financed by reserves.

The amount of additional costs and the shares of the burdens may change depending on factors such as a limit on the number of spectators.

The total Tokyo Games costs were set at 1.35 trillion yen under a budget put together late last year, before the postponement was announced. A new budget that will include the additional costs is due out late this month.

JIJI Press

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