"This increase shows that the athletes remain at the heart of all our activity," IOC Olympic Solidarity director Pere Miro said. "The huge worldwide success of the Olympic Games Rio 2016 also means that the Olympic Movement continues to enjoy a sound financial situation. This enables us to distribute more than half a billion dollars over the next four years to the National Olympic Committees(NOCs)." The funds come from broadcast rights for the Rio Games and the 2018 Winter Olympics in Pyeongchang, South Korea. They are to help NOCs, "particularly those with the greatest needs," in areas ranging from athlete development to the training of coaches and sports administrators.

Source: The Nation Bangkok November 11, 2016 09:28 UTC