Indonesian Political, Business & Finance News

Govt to help fund Olympics training

| Source: JP

Govt to help fund Olympics training

JAKARTA (JP): State Secretary Ali Rahman has approved the
Gelora Senayan Management Board's (BPGS) plan to financially
assist the National Sports Council (KONI) in its preparations for
athletes competing in the 2000 Olympic Games in Sydney in
September.

Chairman of the Gelora Senayan Executive Directors (DPGS),
Yasidi Hambali, told reporters on Wednesday that Ali, who is also
BPGS chairman, had agreed to hand over Rp 2 billion (US$276,820)
to enable KONI start its centralized training program on Feb. 1.

"Based on our meeting on Tuesday evening, the state secretary
agreed to help KONI. However, the DPGS's help was only
complimentary. The government must take full responsibility in
financing the training programs," he said.

Yasidi said Ali would meet with BPGS's vice chairman, State
Minister of Youth Affairs and Sports Mahadi Sinambela, and KONI's
chairman, Wismoyo Arismunandar, to discuss the mechanism to
contribute funds for national sports development in the future.

"We don't want the decision to be made only by BPGS's
chairman, but rather collectively by the three parties," he said.

KONI has requested Rp 6.9 billion from the government to
finance its Olympic training program, but it has yet to receive
any response. It has also asked BPGS to provide Rp 5 billion and
BPGS has approved to hand over Rp 2 billion in advance.

Wismoyo said on Tuesday if there were not enough funds to
stage the training, he would have to ask KONI's provincial
branches and sports organizations to provide special funds for
their athletes who have qualified for the Olympics.

So far, 13 Indonesian athletes have qualified from track and
field, swimming, diving, archery, weightlifting and windsurfing.
Some 20 shuttlers are expected to join the squad.

Yasidi also said that Ali had urged the DPGS to keep
communicating with the Indonesian Bank Restructuring Agency
(IBRA) over some of its assets, which have been taken over by the
agency.

"So far, we haven't made any progress. It's not a simple
procedure as we have to speak with our five partners and IBRA,"
he said.

The five partners are PT Indobuildco, the owner of the Jakarta
Hilton International Hotel and Apartments; PT Mulia, the
management of Hotel Mulia Senayan; PT Graha Sidang Pratama, the
management of the Jakarta Convention Center; PT Gelora Waskita
Karya, whose construction of Senayan Tower was halted due to the
monetary crisis; and PT Manggala Pratama, which built the BPGS's
office.

According to IBRA, PT Indobuildco is the 32nd largest debtor
with a total debt of Rp 836 billion (US$120.3 million), while PT
Mulia is in the 42nd position out of 1,689 debtors, with a total
debt of Rp 631.1 billion. (yan)

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