$150m to subsidise World Cup venues

2014-08-08 03:51:32 | Al Muslim News
$150m to subsidise World Cup venues

 

The Russian government approved Friday rules on subsidising construction of infrastructure for the 2018 football World Cup for a total of over 5.5 billion rubles ($151 million, 113 million euros). Prime Minister Dmitry Medvedev signed a decree setting out how regions hosting the matches can tap the funds under the government´s programme to support the World Cup. While Russia successfully transformed the Black Sea resort of Sochi into a glittering sports venue to host February´s Winter Olympics, at a cost of over $50 billion, the World Cup presents an even bigger challenge as a radical overhaul is needed of sports, tourist and transport infrastructure in a string of under-developed regions across the vast country. Some of the venues are already complete or well on schedule -- but elsewhere work will be starting from scratch. The programme has identified 28 projects including modernising the water and heating systems in cities hosting matches. Officials have previously estimated that $20 billion will be needed to prepare for the World Cup, with about half coming from private investors and the other from regional government budgets. (AFP).

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