Thomas Bach, the President of the IOC (International Olympic Committee), confirmed on Sunday (the 31st) that the Organizing Committee could receive an advance of financial resources from the entity to cover cash flow shortages.

The committee is having difficulty paying suppliers due to emergency spending, including repairs to the Olympic Village and the contracting of security guards for the Olympic Park. The entity is also dealing with an expected deficit of R$250 million.

"There are two issues. One is with the general budget. We have been told by the local committee that they continue to work within a balanced budget. There are, however cash flow challenges. The IOC has already helped and continues to help the organizing committee to assure that these Games will be a success", said Bach, in a press conference.

The biggest portion of the nearly R$1,8 billion that the IOC is transferring to Rio-16 should be supplied on the day of the opening ceremonies, August the 5th, and the day of the closing, on the 21st of August. However, the entity is considering providing the resources in advance.

Bach confirmed that he had been worried by news regarding the problems at the Olympic Village

"As I was leaving Europe, I read worrisome news about the situation at the Village. For this reason I decided to go directly from the airport to the village", he said.

The German declared that it is possible to already see the legacy of the Games in the city, citing Line 4 of the Metro, which will open tomorrow (the 1st), and the revitalization of the Port Zone as examples.

Translated by LLOYD HARDER

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