Tokyo Olympic, Paralympic Cost Estimate Put at 1.6-1.8 T. Yen

Tokyo, Dec. 21 (Jiji Press)--The 2020 Tokyo Olympics and Paralympics organizing committee showed its estimates Wednesday that the Games will cost 1.6 trillion to 1.8 trillion yen. The organizing committee presented the cost estimates at a meeting with the International Olympic Committee, the Japanese government and the Tokyo metropolitan government. The organizing committee also showed a cost-sharing framework calling for 500 billion yen in contribution from the committee and 1.1-1.3 trillion yen from the state and metropolitan governments as well as municipalities involved. The committee calculated 680 billion yen will be necessary to get sports event facilities ready and 820 billion yen to manage events, including 160 billion yen for security, 140 billion yen for transportation and 100-300 billion yen in reserves, including for taking measures against heatstroke. At a four-party meeting on Nov. 29, the organizing committee put a maximum cost estimate for the Games at 2 trillion yen, but was urged by the IOC to cut more costs. Toshiro Muto, director-general of the organizing committee, told Wednesday's meeting that the presented budget plan is not final and that further cost reduction will be considered. The four parties approved a plan to hold volleyball events at Ariake Arena to be built in Tokyo's Koto Ward. END