June 15 - The Association of National Olympic Committees (ANOC) are to receive $12 million (£8 million/€9 million) from the International Olympic Committee (IOC) over the next four years to help them deliver a range of services that they have planned.
In addition, the IOC has also promised a $20 million (£13 million/€15 million) subsidy to help fund ANOC's new headquarters here in the city which is the headquarters of the Olympic Movement and which is due to open early in 2014.
ANOC treasurer Richard Peterkin revealed the new financial details when delivering his report at the organisation's Extraordinary General Assembly here today.
The General Assembly in Moscow last year, which was awarded to the Russian capital after the British Olympic Association gave up the chance to host the event in London because it claimed it could not afford it, cost $7 million (£4.5 million/€5 million), Peterkin revealed.
The Russian Olympic Committee contributed $3.5 million (£2.3 million/€2.7 million) while ANOC had to foot the rest of the bill.
The extra money from the IOC, a significant rise on the $3 million (£2 million/€2.5 million) they used to give ANOC, will be used to launch programmes to help National Olympic Committees (NOCs).
"Our challenge now is how to best use the additional resources," said Peterkin, an International Olympic Committee (IOC) member from St Lucia.
"We are in for a hell of a ride."
It is all part of the plan by Sheikh Ahmad Al-Fahad Al-Sabah, the President of ANOC, to modernise it and make it more significant within the Olympic Movement.
A new consitutition was also agreed at today's meeting.
It includes laying out - in 5.1a - what the role of ANOC is, explained Chambers.
"This says everything, it provides that ANOCs purpose is to serve, promote and protect the interests of the NOCs," he told the audience.
"That's what this constitution is all aimed to do."
Among the proposals are to set up an Athletes' Commission to give them a greater voice.
"For the first time this new constitution has a place for athletes in our governance," said Chambers.
For Sheikh Ahmad, who had replaced Mexican Mario Vázquez Raña last year, this was the first step on a journey.
"This meeting will give us a roadmap for the future because this is only the beginning," the Kuwaiti told delegates.
"We are moving in the right direction and we are helping each other.
"This meeting will give us a roadmap for the future because this is only the beginning."
Earlier, IOC President Jacques Rogge had addressed the meeting for the final time before he steps down at the Session in Buenos Aires on September 10.
"During my mandate you helped me a lot, we had six very successful Games," he said.
"Together we defended the [Olympic] values and the fight against doping and match-fixing that is so important for our future.
"Together we made big progress in good governance and autonomy of the NOCs.
"I wish you good luck for your creative and ambitious plans.
"I urge you to support my successor as you have supported me.
"I remain extremely optimistic about the future.
"Thank you and good luck."
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