A total of K30,000 (£6,300/$8,500/€7,100) is set to be distributed to 29 athletes across 10 sports who are currently supported by the PNGOC in a bid to pursue their Olympic dream.

Two athletes from sailing have already gained spots in the men's laser and women's laser radial events, while others look to continue qualification preparations in 2021.

This fund is due to go towards keeping athletes healthy and injury free in the run-up to the Games by helping them maintain fitness and nutrition.

Athletes will be provided with support to purchase food and toiletries, as well as receive assistance with their everyday living expenses.

CPL Group chief executive Navin Raju spoke about the importance of sport as a tool for development and backed the funding to further improve the lives of wider communities.

"We are proud to know that through our sponsorship, we are making an impact not just only individually but developing successful athletes and sports in PNG," said Raju.

"Our support is in line with our value - we care for our community, customers and people. 

"By giving back to the community we serve, we demonstrate our commitment to this value."

PNGOC secretary-general Auvita Rapilla thanked the CPL Group for their ongoing support.

"CPL has a long and proud history of investing and contributing towards the development of sports in PNG and PNGOC is proud to partner with them in this journey," said Rapilla.

"Nutrition plays a big role in our athletes' preparation in ensuring they remain fit and healthy throughout this period. 

"What a fantastic way to achieve this by collaborating with a proud PNG company that values the community and at the same time is able to provide valuable support for our aspiring athletes."

The Tokyo 2020 Olympics is scheduled to take place from July 23 to August 8 2021, having been rescheduled due to the COVID-19 pandemic.

Papua New Guinea has yet to win an Olympic medal.