French PM Manuel Valls on Friday committed 1B ($1.1B) "on behalf of the French government to support Paris's bid to host the 2024 Olympics," according to FRANCE 24.
The French capital "is one of four candidates including Budapest, Los Angeles and Rome." Valls: "The State will bring two thirds of the necessary public funds, that is one billion euros, to finance equipment, and long term construction which will be useful to the population." He added the funds would be released "between 2018 and 2024." Valls said the northern Paris suburb of Seine-Saint-Denis, one of the poorest in France, "would benefit from Paris hosting the games, notably through the construction of the Olympic Village there, which would be transformed into 5,000 homes" (FRANCE 24, 10/8).
TAKING THE NEXT STEP: The Paris 2024 Olympic and Paralympic Games Bid Committee on Friday submitted Phase 2 of its Candidature File to the IOC -- the second stage of the three part bid submission process that focuses on governance structure, legal and customs matters, support and venue funding.
In particular, Paris 2024’s file highlights how the French capital city has strong and broad political and public support and details the Games investment plan that is fully guaranteed and in line with Paris 2024’s legacy objective to place sport at the service of society and help local communities thrive (Paris 2024).
