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Bank of China to provide USD 4.8 bn for 2022 Winter Olympics

The sum will be provided from 2018 to 2024, BoC Chairman Chen Siqing said at a press conference held in Beijing on Tuesday.


Bank of China to provide USD 4.8 bn for 2022 Winter Olympics
Beijing was chosen by the International Olympic Committee (IOC) to host the 2022 Winter Olympics in 2015. (Image Credit: Pixabay)

Bank of China Ltd (BoC) will provide 30 billion yuan (USD 4.79 billion) financing for the winter sports industry over the next seven years, said its chairman.

The sum will be provided from 2018 to 2024, BoC Chairman Chen Siqing said at a press conference held in Beijing on Tuesday. China is hosting the 2022 Winter Olympics.

Beijing was chosen by the International Olympic Committee (IOC) to host the 2022 Winter Olympics in 2015, becoming the first city to be awarded both the summer and winter Games.

"This will be a memorable event at the foot of the Great Wall for the whole Olympic Family, the athletes and the spectators that will further enhance the tremendous potential to grow winter sports in our country, in Asia and around the world." Beijing Bid Committee said in a statement when being awarded the chance to host Winter Olympics.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)


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