The funds are earmarked for various sporting events
Brazilian Federal Economic Bank has announced R$160 million (about US$32 million) until 2028 for the Brazilian Olympic Committee, reports Toda Palavra, partner of TV BRICS.
This sponsorship is aimed at promoting sport in Brazil, improving performance and encouraging youth and adult participation in sport.
It has previously invested more than R$700 million (about US$140 million) in various sports organisations and football clubs to support the strengthening of sports in the country. In addition to the Olympic Games, the financial institution will invest in various sporting events such as the Pan American Youth Games, the World Beach Games, the South American Games and others.
Throughout the Olympic Games in which Brazil has participated, the country has won 40 gold, 49 silver and 81 bronze medals.
Photo: iStock
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