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Russia pours an additional $50 million into Olympics

December 26, 2013|By David Wharton

When you're spending a reported $51 billion to host the most costly Olympics ever, what's another $50 million added to the pile?

With six weeks to go before competition begins at the 2014 Sochi Winter Games, the Russian Cabinet has allocated $50 million in extra subsidies for organizers.

That brings the total amount of subsidies to $420 million, according to the RIA Novosti news service.

Lawmakers gave no reason for approving the 1.6 billion rubles, but said the money will go toward the cost of hosting the Games, as opposed to the far greater amount that is being spent on infrastructure as organizers scramble to finish constructing venues, accommodations, roads and railways.

The organizing committee have also received substantial funds from sponsors and contributions from state-owned companies.

The Sochi Olympics are scheduled for Feb. 7-23.

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