National Olympic bodies to get more than $500 million

(Reuters) – The International Olympic Committee (IOC) will distribute more than $500 million to national bodies over the next few years, it announced on Thursday.

The IOC said the amount was an increase from the $439 million dispersed over the 2013-16 period.

The funds, officially known as the Olympic Solidarity 2017-2020 Quadrennial Plan, represent a share of the broadcast revenue from the 2016 Rio Summer Games and 2018 PyeongChang Winter Games.

“This increase shows that the athletes remain at the heart of all our activity,” said Pere Miró, Deputy Director General for Relations with the Olympic Movement and Director of Olympic Solidarity.

The program’s aim is to assist National Olympic Committees with athlete development, training of coaches and sports administrators, and to promote Olympic values.

Two new programs have also been proposed — Refugee Athlete Support and Athletes’ Career Transition.

(Reporting by Andrew Both in Cary, North Carolina; Editing by John O’Brien)