Russia earmarks extra $50M for Sochi Olympics
Dec. 25, 2013
MOSCOW (AP) — Russia's Cabinet has approved the allocation of nearly $50 million in extra subsidies for the organizers of the Sochi Olympics.
The Cabinet's decision, reported by the RIA Novosti news agency on Wednesday, takes the total number of subsidies for the Sochi Organizing Committee to the equivalent of more than $420 million.
The Cabinet said without elaboration that the extra money would help finance the committee's activities.
The allocations for the organizing committee are a small share of the total Sochi Games costs that amount to $51 billion, making them the most expensive Olympics in history.
The games will take place from Feb. 7-23.