Sochi 2014 Confirms Ability to Self-finance in 2009-10
Success of marketing plan among announcements at Supervisory Committee Board Meeting.
Sochi 2014 Supervisory Board took place at the Russian Government in Moscow. The meeting was led by the Deputy Prime Minister of Russia and Chairman of the Sochi 2014 Supervisory Board, Alexander Zhukov.
"We are working at a good rate, and I believe that we have laid significant groundwork to ensure the Sochi 2014 Olympic and Paralympic Winter Games are hosted to the highest possible level."
The core themes of the meeting were the results of the IOC Coordination Commission, financing and Sochi 2014 ecological strategy.
The robust financial health of Russia’s first ever Olympic and Paralympic Winter Games was reaffirmed once again by the Russian organizers.
Dmitry Chernyshenko, Sochi 2014 President and CEO, said:
"The success of partnership and commercial programs will now allow us to use funds generated by Sochi 2014 for the 2009-2010 development period, postponing the need for the state funds guaranteed by the Government.
"The Sochi 2014 Organizing Committee is committed to ensuring that 80% of the budget for staging the Winter Games comes through private funding, and we are delivering on our financial promises. I can confirm that the Organizing Committee has successfully generated more than $500 million through our marketing program in the first five months of 2009.
“Sochi 2014’s marketing program has, so far, shown that major businesses are recognizing the value of becoming a partner of this national priority project. They believe that Sochi 2014 Partnership offers unique opportunities in business development and other areas.”
Another key item on the meeting agenda was the approval of Sochi 2014’s innovative environmental strategy. Action plans for elements central to this plan were approved, including the 'Games in Harmony with Nature'; 'a Climate-Neutral Games'; 'a Zero-Waste Games' and 'the Enlightenment Games' initiatives.
Dmitry Chernyshenko continued:
“We are constantly working to preserve the natural life and improve the environment of the North Caucasus. We have an ongoing dialogue with leading environmental scientists and have reached an agreement in principle with major non-governmental ecological organizations.
“Furthermore, representatives of both Greenpeace Russia and the WWF are working with us as members of the Ministry of Natural Resources and Ecology working group, and we value their input and guidance.”
Mr. Chernyshenko also presented a formal report following the second International Olympic Committee (IOC) Coordination Commission visit to Sochi, which took place in May 2009, adding:
"We have been evaluated favorably by the IOC’s experts – they highlighted that significant progress had been made since their last visit to Sochi. As a result of their visit we now have a list of recommendations which, when implemented, will further enhance the efficiency of Games preparations.
"We presented detailed reports on 14 key topics to the IOC Coordination Commission. This included technology, the Olympic and Paralympic Village, accommodation for different client groups, relations with the National Olympic Committees and International Federations.
“At the Coordination Commission, the International Olympic Winter Sports Federations were able to gain a detailed understanding of the Sochi 2014 Venue Plan. I’m pleased to report that these key Sochi 2014 stakeholders were impressed by our innovative plans.