Australia Confirms Record $2.9b Brisbane Funding

The Australian government has confirmed that it will contribute A$3.435 billion (S$2.88 billion) towards the A$7.1 billion cost of building the venues for the 2032 Brisbane Olympics, clearing the way for the start of construction.

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SYDNEY - The Australian government has confirmed that it will contribute A$3.435 billion (S$2.88 billion) towards the A$7.1 billion cost of building the venues for the 2032 Brisbane Olympics, clearing the way for the start of construction.

Queensland taxpayers and private finance will provide the balance of the money for the 17 new and upgraded venues for the Summer Games under the funding deal announced by the state and federal governments on July 3.

"The Sydney 2000 Games left an incredible legacy and many Australians have memories that have lasted for decades," Federal infrastructure minister Catherine King said in a statement.

"We are ready to deliver a Brisbane 2032 Games that will leave the same incredible legacy for Queensland.

"The Australian government's commitment of A$3.4 billion towards the Games venues is the single largest contribution any Australian government has made towards sporting infrastructure in this country."