The Council for Economic Planning and Development (CEPD) yesterday approved the Taipei City Government’s project to hold the 2017 Taipei Summer Universiade, provided that the Ministry of Education (MOE) submits a more detailed budget plan to the Cabinet.
The Universiade, a biannual international multi-sport event organized for university athletes, is estimated to cost NT$19.8 billion (US$66.71 million), the council said, adding that the central government and the city government will each provide 45 percent of the funding, and the remaining 10 percent will come from fees collected in the event.
This estimate was lower than the NT$42.5 billion proposed by the city government last year due to the sports arena in Taipei’s Songshan District (松山) becoming a build-operate-transfer project, saving about NT$20 billion, the council said.
Among the spending, about NT$770 million will be given to the International University Sports Federation, which coordinates the Universiade, for royalties, while about NT$690 million will be used to market the event, the council said.
The government will also spend NT$5.4 billion on personnel costs and NT$14.4 billion for construction, the council said.
The city government said that the event can generate NT$18.21 billion for Taiwan and increase the global visibility of the nation.
The council also requested the ministry make a rule requiring local governments to apply for subsidies from it to hold international events, easing the pressure on the central government.