MANILA, President of the Filipino-Philippine Olympic Committee, Abraham Tolentino, said the local Olympic organization has set up an incentive plan for medalists at international multisport tournaments.
For the first time in POC history, Tolentino said it had set up an Athletes Incentives Trust Fund, which was unanimously approved at the POC board meeting on Thursday.
"It will give our athletes something to look forward to when they take part in international multi-sport events," Tolentino told the Inquirer.
However, the AITF will limit itself to funding medals at the Olympic Games, Asian Games, and Southeast Asian Games, according to the head of PhilCycling.
“We will raise the funding with the help of the private sector. We will be transparent to our sponsors, they will know that any financial support is for the trust fund only, ”said Tolentino.
The POC gave cash rewards to the 149 gold medalists at the 30th Southeast Asian Games held in the Philippines and also incentives to the 117 silver and 121 bronze medalists.
It was a separate effort from the government's monetary incentives through the Philippine Sports Commission and Pagcor, as required by law, where gold medalists earned 300,000 pesetas while silver and bronze were worth 50,000 pesetas and 60 pesetas. 000 or ..
In addition to the financial benefits of the PSC and the POC, President Duterte also gave incentives to the medalists.
"We will determine the level of monetary incentives depending on how much the POC can increase," said Tolentino.
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