KUALA LUMPUR: The Olympic Council of Malaysia (OCM) has initiated a special fund to provide financial aid to National Sports Associations (NSAs) directly affected by the Covid-19 pandemic.
OCM said in a statement yesterday that the pandemic and the movement control order (MCO) had caused disruptions to the sports industry and NSAs were not spared.
OCM revealed that it had set aside RM300,000 from its Trust Fund to provide financial aid to NSAs negatively impacted by the pandemic.
“The fund is aimed at assisting NSAs with their administrative expenses at a time when the cancellation of and inability to organise events, in particular, have affected revenue streams while their monthly expenditure remains,” it said.
The sports governing body said it would announce the application process and procedures to the NSAs soon, adding that its executive board had agreed to waive 50 per cent off the monthly rental for tenants at Wisma OCM for this month and May.
“OCM will continue to monitor the situation and engage with the relevant stakeholders, particularly our members, in relation to Covid-19,” it added. – Bernama
