With Brazil currently in recession, International Olympic Committee (IOC) president Thomas Bach on Monday said stakeholders will cooperate with each other to help the 2016 Rio Games achieve a balanced budget.
"The Olympic movement will show solidarity with the Brazilians in order to achieve a balanced budget, which will then serve as a solid foundation for the next six months to have finally successful and excellent Olympic Games in Brazil," Bach told Rio 2016 official website.
On February 1-2, Rio 2016 met with representatives of the 28 Olympic summer sport International Federations (IFs) in a joint effort to deliver efficiencies in the budget for the Olympic Games. In line with the IOC' s Agenda 2020 reforms, strategies for maintaining a balanced budget were the focus of the meeting at the IOC headquarters in Lausanne, Switzerland, reports Xinhua.
The parties worked together to find creative solutions that will allow organisers to deliver successful Games on a responsible budget. Sustainability and legacy are key to all Games planning and the Rio 2016 organising committee is committed to using zero public money.
The meeting was part of the ongoing close dialogue between the IOC, Rio 2016 and the IFs. Rio 2016 president Carlos Nuzman led the Rio 2016 delegation and was accompanied by his executive director of sport Agberto Guimaraes and sport director Rodrigo Garcia. The IOC was led by Olympic Games executive director Christophe Dubi and sport director Kit McConnell.
Among the ideas designed to increase efficiency that were presented to the IFs were shared working areas and more cost-effective transport solutions.
Matt Smith, executive director of the International Rowing Federation (FISA), said that the meeting was "really useful for us all" before adding "we have to be very efficient and make the Games financially viable for the future".