The International Gymnastics Federation (FIG) has set up a solidarity fund for gymnasts affected by the ongoing COVID-19 pandemic.
With a total of CHF400,000 (£340,000/$410,000/€380,000) available, financial assistance will be given to athletes and national federations suffering economically as a result of the crisis.
It will be managed by the FIG Foundation for Solidarity, which was created in 2002 and has since supported athletes and federations through scholarships and financial aid.
Eligibility criteria is yet to be defined, but the FIG said this and the application process will soon be confirmed.
The FIG has also waived 2020 membership fees for its member federations, an act it says will cost the organisation CHF120,000 (£102,000/$123,000/€114,000).
FIG President Morinari Watanabe called the initiative "a valuable example of solidarity and friendship" during an FIG Executive Committee meeting yesterday.
Watanabe added: "This grave crisis plunges the world into a period of uncertainty.
"We cannot wait until the situation for some of us becomes catastrophic before we act and offer our support.
"We know how strong the spirit of solidarity is in gymnastics.
"More than ever, it is by being united that we can overcome this crisis."
There have been more than 4.64 million confirmed cases of COVID-19 worldwide to date, resulting in the deaths of at least 309,000 people, and dozens of FIG events have been cancelled or postponed as a result.