A historic decision regarding the premises of the International Olympic Academy in Ancient Olympia, was taken by the Hellenic Olympic Committee, owner of the premises, with the approval of the tripartite agreement between the HOC, the IOA and the IOC regarding their renovation, in order to modernize them and make them an international center for Olympic Education. The works will begin right after the Ceremony for the Lighting of the Olympic Flame for the Olympic Games “Tokyo 2020” and will be concluded in June 2021 shortly before the conduction of the IOC Session in Athens. The cost of the works, amounting up to 12,5 million euros, will be undertaken exclusively by the International Olympic Committee. The IOC Director for Corporate Events and Services, Panos Tzivanidis made a presentation on the works to be done in the premises in Ancient Olympia during the HOC plenary session and replied to all questions.

Isidoros Kouvelos, the President of the International Olympic Academy, to whom the Hellenic Olympic Committee has granted the use of the premises, said in regard to this historical decision: “When Greece entered the financial crisis and it was impossible even to cover the costs of the premises in Ancient Olympia, the HOC granted the management to the IOA and we acted immediately in order to find sponsors and keep the Academy, the lighthouse of Olympic Education, alive. All these years, we were trying to sensitise the IOC to make the most of the premises, the unique center for Olympic Education in the world. Consequently, this program is an overhaul for the International Olympic Academy and we enter a new era, where the Academy is upgraded not only premises wise but also in regard to its activities and educational programmes. All these are very important and I believe that this is a formal sitting and I would like to thank for this decision the IOC President Thomas BACH and the IOC Vice president Ser Miang NG.