Jamaica News: Approximately $1.36 billion is programmed by the Sports Development Foundation (SDF) for allocation during the 2019/20 fiscal year.
The sum, according to the 2019/20 Jamaica Public Bodies Estimates of Revenue and Expenditure, is being provided for six key areas, in keeping with the Foundation’s mandate to develop the nation through sports.
The lion’s share of $872.6 million is earmarked for infrastructural projects; $238.2 million for national sports associations; $138.4 million, special allocations; $44.1 million, track meets; $43.1 million, grants to government agencies; and $32.6 million, athletes’ insurance/welfare.
The SDF is an approved charitable organisation that was incorporated as a company limited by guarantee, to promote and encourage the development of sporting talent and the growth in facilities and activities relating to all aspects of sports.
The Foundation’s main income source is proceeds from the gaming industry, and based on Section 59G of the Betting, Gaming and Lotteries Act, it is entitled to 40 per cent of the gaming proceeds received by the Culture, Health, Arts, Sports and Education (CHASE) Fund.
Since its inception, the SDF has been fostering sports advancement through its emphasis on specialist training and other human development programmes.
Additionally, the entity supports national teams participating in local and international events, the preparation and sponsorship of athletes, and the provision of sporting facilities islandwide.
These inputs have served to significantly boost the standard of athletes’ performance and level of achievements at international events, such as the quadrennial Olympic Games and biennial World Athletics Championships.
Source: JIS News