Russia to spend $17.6 billion on Olympic construction

Construction projects for the 2014 Olympic Games in Sochi will require 524 billions roubles (some $17,6 billion) in 2011-2013 from the state budget, reports Interfax, citing the Ministry of Finance. The sum includes the asset contribution to the “Olimpstroy” state corporation, subsidies for the Krasnodar administration, financing security services. The “Sport Broadcasting” organization, which is to cover the Games, will also get financing from the budget.