TTOC President Brian Lewis has hailed a Government plan to financially reward athletes who win medals at major sporting events ©TTOC

Trinidad and Tobago Olympic Committee (TTOC) President Brian Lewis has hailed a Government policy which financially rewards athletes who win medals at major sporting events including the Olympic Games.

Athletes who claim Olympic gold will receive TTD$1 million (£105,000/$149,000/€120,000) after the Government adopted a new National Policy on Sport.

Under the plan, silver medallists at the Games will pocket TTD$500,000 (£52,000/$74,000/€60,000), while bronze medal recipients will be entitled to half that amount.

Tokyo 2020 will be the first Olympics where the policy will officially be in place, although the Government has agreed to compensate athletes, teams and players who have tasted medal success at several events held over the past two years.

This includes the Rio 2016 Olympic and Paralympic Games and the previous two editions of the International Association of Athletics Federations World Championships, held in 2015 and 2017.

Keshorn Walcott is among those who will be financially rewarded after he won bronze at Rio 2016 ©Getty Images
Keshorn Walcott is among those who will be financially rewarded after he won bronze at Rio 2016 ©Getty Images

Keshorn Walcott, who won his country's only medal with bronze in the men's javelin at the Olympics in Rio de Janeiro, is among the first to benefit.

The policy also extends to competitors at World Championships, who will be given TTD$500,000 for gold, TTD$250,000 (£26,000/$48,000/€30,000) for silver and TTD$125,000 (£13,000/$24,000/€15,000) for bronze.

Lewis praised the plan and called on athletes to take up the challenge laid down by the Government.

The TTOC and Caribbean Association of National Olympic Committees President described the policy as a "significant statement of intent".

"We, at the Ministry of Sport and Youth Affairs are athlete-driven and we stand committed to the attainment of holistic sport development, whilst supporting our athletes’ pursuit of excellence at the highest levels of competition," added Minister of Sport and Youth Affairs Darryl Smith.