19 октября 2014 13:50

Kazakhstan wants 2/3 of 2022 Olympics costs to be funded by investors

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The Ministry of Culture and Sports of Kazakhstan has decided to use a mixed model of funding for the Winter Olympics 2022, should Almaty be chosen to host the event, Tengrinews reports citing Almaty TV Channel.

The Ministry said that the country would have to cover only a third of all expected expenses, while the rest would be provided through sponsorship and advertising.

"Russia has used a mixed model at the Olympics in Sochi. Their income made $10 billion. Japan has officially declared that it would be able to earn $30 billion from hosting the Tokyo Summer Olympic Games in 2020," Vice-Minister of Culture and Sports of Kazakhstan Tastanbekov Yesentai said.

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