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Total cost of 2020 Tokyo Games rises to approx. 2.16 trillion yen

Tokyo Gov. Yuriko Koike discusses the Tokyo Metropolitan Government's fiscal 2018 budget draft at a press conference in Tokyo's Shinjuku Ward, on Jan. 26, 2018. (Mainichi)

The Tokyo Metropolitan Government said on Jan. 26 that it will allocate an extra 810 billion yen (about $7.5 billion) to cover "related expenses" for the 2020 Tokyo Olympics and Paralympics -- bringing total costs to about 2.16 trillion yen (roughly $19.9 billion).

Prior to the announcement, the central government, Tokyo Metropolitan Government and the Tokyo Organizing Committee of the Olympic and Paralympic Games had disclosed provisional "tournament costs" of 1.35 trillion yen.

The related expenses include work to make facilities barrier-free and the training of volunteers. Such costs were not included in the tournament costs disclosed in December 2017, which apply to facility construction and transportation, among other projects.

Regarding tournament costs, it had been agreed that both the Tokyo Metropolitan Government and the organizing committee would shoulder 600 billion yen each, while the central government would put in 150 billion yen. However, the organizing committee is not expected to cover any of the so-called related expenses, and the extent of the central's government burden has been withheld.

Commenting on the tournament costs, a Tokyo Metropolitan Government official explained that "about 570 billion yen has been secured from accumulated reserve funds for the event and money left over from the fiscal 2016 settlement of accounts." The remaining amount of what Tokyo is expected to pitch in, about 30 billion yen, will reportedly come from a surplus from the fiscal 2017 settlement of accounts. It is understood that 98.3 billion yen from a tournament reserve fund has also been set aside in the fiscal 2018 budget draft.

Moreover, the official emphasized that it will be possible to allocate about 530 billion yen from other Tokyo Metropolitan Government funds such as a fund devoted to "hospitality (omotenashi) and tourism" to help cover the extra 810 billion yen in related expenses. As for the remaining figure of about 280 billion yen, the official said, "We want to limit as much as possible the issuance of Tokyo Metropolitan Government bonds, which would just create a burden for the future." In total, 227.5 billion yen has been allocated from funds such as the tourism fund in the fiscal 2018 budget draft.

The total amount of the Tokyo Metropolitan Government's fiscal 2018 budget draft unveiled on Jan. 26, which includes tournament-related costs for the 2020 Games, is a little under 7.05 trillion yen.

"I want Tokyo residents to realize that the Tokyo Metropolitan Government will cover much of the costs for the 2020 Games -- which is why I have disclosed these figures," Tokyo Gov. Yuriko Koike explained at a press conference on Jan. 26.

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