Using a mixed model of funding, similar to that implemented by Sochi 2014, TengriNews reported the remainder would be provided through sponsorship and advertising.

"Russia has used a mixed model at the Olympics in Sochi," said Tastanbekov Yesentai, Vice-Minister of Culture and Sports of Kazakhstan.

"Their income made $10 billion (£6.2 billion/€7.8 billion).

"Japan has officially declared that it would be able to earn $30 billion (£18.5 billion/€23.5 billion) from hosting the Tokyo Summer Olympic Games in 2020.

"We also want to stick to the mixed model of financial management, in which the share of state involvement would be 33 per cent and the rest will be raised by investors.

"In that case we will be able to hold the Olympics in 2022 at a proper level."

Nail Nurov, director of the speed skating oval, Alau Ice Palace, in the Kazakhstani capital Astana, proposed dividing the Olympics between two cities, Almaty and Astana, which was the case during the 2011 Asian Games.

This would reduce the number of facilities that Kazakhstan would need to build for the Olympics.

The 2014 Winter Olympic and Paralympic Games in Sochi has been criticised for reportedly costing more than $50 billion, although the operating budget was much lower ©Getty Images



But the idea was rejected by the National Olympic Committee of Kazakhstan vice-president Pavel Novikov, who said "it can be only one city", citing the Olympic Charter.

Novikov claimed Almaty had a good chance to win the bid to host the Games and the city looked "solid" up against their only competitor, the Chinese capital Beijing.

Close proximity of sports facilities, within a 35 kilometre radius, is considered Almaty's main selling point.

In Beijing, all the facilities are located far away from each other, while the fact that the city hosted the Summer Olympics in 2008 is perceived as being detrimental to its chances of staging another major event.

Nurov promised the Olympic Games "should become a celebration of sport, not a vanity fair", drawing attention to the rising costs of hosting Olympic Games.

It is claimed Sochi 2014 cost more than $50 billion (£31 billion/€39 billion), which Nurov believes raised the bar to "unbelievable organisational heights", although the operating budget was far lower at $2.2 billion (£1.3 billion/€1.6 billion).

The announcement of the host city is due made at the International Olympic Committee Session in the Malaysian capital Kuala Lumpur on July 31, 2015.

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