As previously announced, the BiH Federal Government confirmed their financial support for the hosting of the European Youth Olympic Festival (EYOF 2019) to the amount of 1.5 million BAM. Namely, at its 54 session the Federal Government passed a conclusion stating that is shall grant 170.0000 BAM for the hosting of EYOF 2019 from the Federal Budget reserves for 2016. Furthermore, further 430.000 BAM will be allocated in the budget for 2017 and 450.000 BAM will be allocated in 2018 and 2019 respectively, for this project spanning several years.
The aforementioned decision by the BiH Federal Government is just one of the several necessary financial guarantees by competent BiH authorities. The BiH Council of Ministers passed a Decision on Financial Guarantee to the amount of 1.9 million BAM during four years period. The Cantonal Government of Sarajevo Canton will also provide 1.32 million BAM during four years. The hosts of EYOF 2019, the cities of Sarajevo and East Sarajevo will allocate 950.000 BAM and 500.000 BAM respectively.
Based on financial guarantees, 6.17 million BAM have been collected so far for the organisational budget of EYOF 2019. Apart from the guarantees, a further 2.5 million BAM should be added to the total sum, which will be collected from the participants’ fees.
The RS Government Decision on Financial Guarantee is still to be made, although they have agreed in principle to provide support, which would close the financial construction of the organisational budget of this most prestigious sports event after the Winter Olympic Games held in Sarajevo 1984.
Apart from the financial guarantees, the Sarajevo Canton Government has allocated 1.6 million BAM for investments in infrastructure at the Olympic sports grounds at Bjelašnica and Igman, i.e. for resolving the issues of vertical transportation and artificial snow.