Russian bank VTB has renewed its sponsorship agreement with the International Gymnastics Federation (FIG) for 2017, extending a support that has been in place since 2009.
FIG President Morinari Watanabe and Vasily Titov, First Deputy Chairman of VTB and Vice President of the FIG, signed the renewal of the agreement in the margins of the FIG Council meeting in Baku, Azerbaijan, on May 6.
The agreement provides a donation of one million U.S. dollars, to be used largely for the development of Gymnastics disciplines and development funds for the continental unions.
“The Rio Olympic Games confirmed that Gymnastics is one of the three big Olympic sports. This success depends on supporting the development of the sport and for this reason I am delighted that VTB is continuing its collaboration with the FIG,” President Watanabe declared.
“I am proud that this partnership between VTB Bank and the FIG is time-honoured and successful,” said Vasily Titov. “I am convinced that the agreement signed today will, as in previous years, help the FIG to realise concrete and effective projects for the sake of the spread of Gymnastics worldwide.”