Additional costs could add up to 2.8 billion dollars, Tokyo 2020 says
The additional cost caused by the postponement of the Tokyo Olympic Games is about 294 billion yen (about 2.83 billion US dollars), the Tokyo 2020 organizing committee announced, Trend reports citing Xinhua.
The organizers said in a statement that they have reached an agreement on how to split the fee with the Japanese central government and the Tokyo metropolitan government after a three-party meeting, attended by Tokyo 2020 President Yoshiro Mori, Tokyo governor Yuriko Koike and Olympic minister Seiko Hashimoto.
The extra budget consists of operational cost for the delay, which is 198 billion yen (about 1.91 billion US dollars), and the COVID-19 countermeasures cost of 96 billion yen (about 920 million US dollars).
Of the additional operating costs, Tokyo 2020 will cover 103 billion yen (992 million US dollars), the metropolitan government 80 billion yen (260 million US dollars) and the Japanese central government accounts for 15 billion yen (144 million US dollars).
The cost for COVID-19 countermeasures will be paid by the two governments, with the central government covering 58 percent and the Tokyo government 42 percent.
The Tokyo Olympics, postponed by one year due to the outbreak of the COVID-19 pandemic, will be held from July 23 to August 8, 2021.