Belgian Olympic Committee Establishes $3.6M Budget For Rio

The Belgian Olympic & Interfederal Committee (COIB) announced on Tuesday that it has “established a budget” of €3.2M ($3.6M) for the Rio Games, according to BELGA. Belgian athletes that medal will be “rewarded with cash prizes ranging from” €20,000 ($22,226) for a Bronze Medal to  €30,000 ($33,339) for a Silver Medal to €50,000 ($55,565) for a Gold Medal. The rewards for Rio are the same as they were for London 2012. Compared to the London 2012 Games’ budget, the new one has “almost doubled.” The increase is “largely due to the travel expenses for travel to South America.” The COIB collected 30% of the funding for the 2016 Olympics from state subsidies and 70% from private financing (BELGA, 7/12).