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Brazil Extends $850M Emergency Loan To Rio For Olympics

Brazil's government authorized an emergency transfer of R$2.9B ($850M) on Tuesday "for the cash-strapped state of Rio de Janeiro to help pay for infrastructure projects and security for the Olympic Games in August," according to Paraguassú & Ayres of REUTERS. The government's official gazette said that the funds "will be transferred to Rio once a supplementary credit is added to the budget." Rio's financial crisis "threatens to disrupt public services during the Olympics when 500,000 foreign visitors are expected to visit the beach-side city." The federal government "was already considering an emergency loan to Rio after missing interest payments with multilateral banks in May." The missed payments complicated the release of a R$1B loan "from the state development bank BNDES to finish a subway line in the city of Rio de Janeiro" (REUTERS, 6/21). In London, Kiernan & Trevisani wrote according to a presidential decree published late Tuesday, the transfer "is to be used for public security during the Olympics and Paralympics." But according to a communications official in Brazil’s presidential palace, "it should free up funds within Rio’s state budget to pay for other obligations" (WALL STREET JOURNAL, 6/21). 

CONTRADICTIONS
: In London, Martyn Ziegler wrote a row between the IOC and the IAAF "is brewing after it emerged that Russian track and field athletes may be allowed to compete under their country’s flag at the Rio de Janeiro Games." IOC President Thomas Bach insisted that "any Russian athletes who compete in Brazil will do so under the Russian banner." That contradicts the sanction imposed by the IAAF, "which banned Russia’s athletics team from taking part but said that it may allow a handful of Russian athletes, who have been based abroad and subject to international drug-testing, to compete under a neutral banner" (LONDON TIMES, 6/22).

INTIMIDATION TACTICS
: REUTERS' Isaack Omulo wrote former running champion Noah Ngeny said that by forcing Kenyan athletes to undergo additional drugs tests before allowing them to compete in Rio, the IOC "is trying to intimidate his countrymen." The IOC said on Tuesday that every competitor from Russia and Kenya "will have to be evaluated individually for doping and be cleared by their sport's international body, because of those countries' poor anti-doping records." Ngeny, winner of 1,500m Gold in the Sydney 2000 Olympics, said, "Kenyan athletes undergo various doping tests all over the world -- in Diamond League and other international competitions. This special test announced by IOC does not sit well. This, to me, sounds like international bodies are intimidating Kenyan athletes. And that’s annoying" (REUTERS, 6/22). 

RAISING AWARENESS
: The development arm of the Int'l Paralympic Committee, the Agitos Foundation, will partner with the Nippon Foundation Paralympic Support Centre to promote inclusion and participation in Asia ahead of the Tokyo 2020 Paralympic Games. The NFPSC will invest €800,000 ($903,600) into raising awareness and understanding of the Paralympic Movement, and training people within Para sport organizations across Asia over the next four years (IPC).

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