Russian Presidential Grants for Olympic Games athletes instituted

Russian President Vladimir Putin issued a decree on "Grants for athletes - participants of Olympic Games and their coaches", the Kremlin press-service disclosed to a RIA Novosti correspondent.

The grants were instituted on July 1 this year, with the purpose of state support of sports and incitement of athletes' activity.

The Presidential grant equals 15,000 rubles (approximately $480) and will be paid monthly.

Starting from July 1, 2002, 1,000 of such grants will be given, and starting from January 1, 2003 - about 3,000 grants.