Finance Ministry announces exceptional tourism investment opportunities in Assiut    S&P Global Ratings upgrade signals renewed confidence in Egypt's economy: CBE Governor    Egypt seeks to attract Turkish investments in textile, clothing accessories industries    Al-Sisi, Meloni discuss strengthening Egypt–Italy relations, supporting Gaza ceasefire efforts    Al-Sisi, Merz discuss Gaza ceasefire, ways to deepen Egypt–Germany relations    Al-Sisi, world leaders meet in Sharm El-Sheikh to coordinate Gaza ceasefire implementation    EGX closes in green area on Monday, 13 Oct, 2025    URGENT: Trump arrives in Egypt for Sharm El-Sheikh summit, escorted by Egyptian F-16s    L'Oréal Egypt's 10th summit draws over 800 experts, focuses on dermatology    Egypt's central bank offers EGP 75b in T-bills    Egypt's central bank issues EGP 5b FRN T-bonds    URGENT: Netanyahu skips Sharm El-Sheikh peace summit for holy reasons    URGENT: Egypt's Sisi to award Trump highest honour for Gaza peace efforts    Ministers of Egypt، Slovakia sign MoU on environmental protection، climate change    Egypt's Sisi warns against unilateral Nile actions, calls for global water cooperation    Egypt unearths one of largest New Kingdom Fortresses in North Sinai    Egypt's Health Minister showcases Women's Health Initiative at Berlin Innovation Forum    Egypt unearths New Kingdom military fortress on Horus's Way in Sinai    Egypt Writes Calm Anew: How Cairo Engineered the Ceasefire in Gaza    Egypt's acting environment minister heads to Abu Dhabi for IUCN Global Nature Summit    Egyptian Open Amateur Golf Championship 2025 to see record participation    Cairo's Al-Fustat Hills Park nears completion as Middle East's largest green hub – PM    Egypt's Cabinet approves decree featuring Queen Margaret, Edinburgh Napier campuses    El-Sisi boosts teachers' pay, pushes for AI, digital learning overhaul in Egypt's schools    Egypt's Sisi congratulates Khaled El-Enany on landslide UNESCO director-general election win    Syria releases preliminary results of first post-Assad parliament vote    Karnak's hidden origins: Study reveals Egypt's great temple rose from ancient Nile island    Egypt resolves dispute between top African sports bodies ahead of 2027 African Games    Egypt's Al-Sisi commemorates October War, discusses national security with top brass    Egypt reviews Nile water inflows as minister warns of impact of encroachments on Rosetta Branch    Egypt's ministry of housing hails Arab Contractors for 5 ENR global project awards    A Timeless Canvas: Forever Is Now Returns to the Pyramids of Giza    Egypt aims to reclaim global golf standing with new major tournaments: Omar Hisham    Egypt to host men's, juniors' and ladies' open golf championships in October    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Russia says it's in sync with US, China, Pakistan on Taliban    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



IOC urges Tokyo to keep costs below $20 billion
Published in Ahram Online on 29 - 11 - 2016

The International Olympic Committee (IOC) has urged Tokyo to keep costs for the 2020 Summer Games below $20 billion as the hosts continue to grapple with ballooning expenses for the multi-sports event.
Tokyo governor Yuriko Koike ordered a review of the budget that recommended revised plans for three venues to trim costs projected to hit 3 trillion yen ($26.75 billion), four times the initial estimates made when Tokyo won the rights for the Games.
At an open meeting for a four-party working group that includes the IOC on Tuesday, Tokyo 2020 organizers vowed to keep costs below $20 billion but the Olympic authority felt even that ceiling was too high.
"The IOC has not agreed to that amount of money," IOC Vice President Peter Coates told reporters after the meeting, the culmination of a month of technical talks and lower level working group gatherings.
"We believe the Games can be delivered for significantly less than that," he said, noting that the IOC would sit down with Tokyo officials to discuss further cuts.
Among proposals discussed were those made by the Tokyo government to move rowing and canoe/kayak sprint events to an existing course 400 km (250 miles) north of Tokyo, and using older facilities in the capital for volleyball and swimming.
Koike, who became governor in August, told the meeting that due to the high cost of refurbishing the existing rowing venue, Tokyo had decided to stick with plans to build a new one in the capital.
ATHLETES ARE PRIORITY
Costs for a brand new aquatics center will be pared by cutting the number of seats.
As for volleyball, she proposed using an existing venue in the neighboring city of Yokohama and asked to have until Christmas to make a final decision -- a request to which the group agreed.
Last month, IOC President Thomas Bach said that while the Olympic authority was concerned about rising costs for the Tokyo Games, the experience of the athletes had to remain a priority for any planning.
Costs for many venues have soared since Tokyo beat Madrid and Istanbul for the right to host the Games in 2013, which organizers blame on increased construction costs following the March 11, 2011 earthquake and tsunami disaster.
IOC reforms known as "Agenda 2020," carried out with the aim of keeping the Olympics more sustainable, urge the use of existing facilities when possible -- even in other cities or countries -- if it makes financial and practical sense.
Games organizers have run into a series of broken promises and problems in their preparations, including scrapping the original design for the centerpiece National Stadium as well as the first logo after allegations that it was plagiarized.
(For more sports news and updates, follow Ahram Online Sports on Twitter at @AO_Sports and on Facebook at AhramOnlineSports)


Clic here to read the story from its source.