The money will go towards a temporary high performance training centre in the New Zealand city with $50,000 (£31,670) allocated to Olympic athletes as a hardship grant on application.

The money comes from a donation of $150,000 (£95,010) from the International Olympic Committee (IOC) and $22,000 (£13,934) from a fundraising auction and is a welcome gift following the devastating events in Christchurch earlier this year.

A 6.3-magnitude earthquake in February damaged training facilities in and around the city, including the QEII Stadium that hosted the 2011 IPC World Athletics Championships in January, and athletes have struggled to continue working towards qualifying for the 2012 Olympics.

Top Christchurch athletes have been forced to move from Christchurch to continue to pursue their London 2012 dream.

Wardell, who competed at Beijing in 2008, now lives in to Dunedin and works at a girls' school in order to continue her Olympic training programme and welcomed the cash injection from the NZOC.

"This is a real boost for us all," she said.

Christchurch lost out on hosting matches for the 2011 Rugby World Cup due the the earthquake but the city will host the official welcome home function for the New Zealand team after the London 2012 Olympics with high-profile athletes such as cyclist Alison Shanks, shot putter Val Adams and rower Mahe Drysdale pledging their support.

The NZOC also announced that Christchurch would host the official 'Welcome Home' event for the New Zealand team after the Olympics.

''I'm excited that my hometown will be welcoming the team home after the Olympics,'' said Olympic silver and bronze medal-winning cyclist Hayden Roulston.

''They'll really make us proud.''

NZOC secretary general Kereyn Smith says she hopes the event will provide Christchurch with a real focus.

"It's up to the people of Christchurch to decide just how to celebrate New Zealand's Olympic team's success," said Smith

"It could be a ticker-tape parade, a festival in Hagley Park, a concert or even a sports day."

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