Jamaica to benefit from IAAF Olympic dividends
International Association of Athletics Federations (IAAF) president Sebastian Coe has announced to IAAF member federations full details concerning the 'IAAF Olympic Athletics Dividend', which offers $25,000 every year to each national federation to assist its development.
Athletics' premier position in the Olympic movement secures the IAAF the largest proportion of the revenues (IOC) which, the International Olympic Committee distributes to the international federations that govern the 28 sports within the summer Olympic Games.
"This fund will be financed on a total of about $22 million over a four-year period, which represents approximately half of the dividend received by the IAAF from the IOC," said Coe.
"The fund, which we are calling the 'IAAF Olympic Athletics Dividend', has been put in place to assist member federations in designing and implementing structured and sustainable projects to develop athletics in their countries.
"The programme offers member federations assistance to develop and improve athletics where it matters most, with the full support of the IAAF.
The budget of the 'IAAF Olympic Athletics Dividend' which is in addition to all existing IAAF development grants - will be distributed on an equal-share basis.
The idea of this dividend is to help fund projects such as those involving construction, refurbishment, or maintenance of facilities; purchase or hire of equipment; preparation and training of athletes, coaches, and team officials, including travel support; staging of national and regional competitions; and the delivery of development and talent-identification programmes in schools and clubs.
The IAAF will carefully approve the projects and programmes submitted by the member federations in a transparent and thorough process in which value and quality will be assessed.
The member federations, in turn, will provide dedicated human, technical, organisational, and financial support to the project and report regularly to the IAAF on progress.