Madrid's Olympic bid gets EUR 800m boost
22 October 2004, MADRID - The Spanish government is to give EUR 800 million to help Madrid's bid to stage the Olympics in 2012, the deputy prime minister María Teresa Fernández de la Vega announced Friday.
22 October 2004
MADRID - The Spanish government is to give EUR 800 million to help Madrid's bid to stage the Olympics in 2012, the deputy prime minister María Teresa Fernández de la Vega announced Friday.
Fernández de la Vega said the Socialist government had completed its promise to offer this "essential" aid to help the capital's bid.
She said among criteria which the International Olympic Committee (IOC) would look for in each of the cities on the shortlist was the level of government financial and institutional help.
Madrid is competing against Paris, London, New York and Moscow.
The IOC will announce its decision on 6 July next year.
But despite the Spanish government's cash help, Paris is still the favourite to stage the games in eight years time.
Fernández de la Vega said the financial aid showed the government's "unequivocal support" for Madrid's bid.
She said that eleven ministers were involved in providing support for the bid from their own budgets.
"This represents the backing of the government which has been unanimously supported Madrid from the start," she added.
Fernandez de la Vega added: "Madrid's Olympic dream is shared with a majority of Spanish people, institutions and the government too.
"Just as with the Barcelona Olympic Games in 1992, this could be an unrepeatable opportunity to raise the quality of Spanish sport."
[Copyright EFE with Expatica]
Subject: Spanish news