The Olympic Federation of Ireland has announced €80,000 worth of grants from its discretionary fund geared towards Olympic focused development projects.

The funding is entirely generated thanks to the support of commercial partners, primary sponsor, FBD, and OFI partners, Indeed and Circle K.

The funding is designed to leverage and enhance Sport Ireland funding, helping National Federations to deliver new performance-related initiatives to support their athletes.

A total of €530,000 in grants has been paid through the fund to Irish sport performance programmes since it was established in 2018.

The latest tranche of €80,000 announced today provides support for eight projects in Canoeing, Gymnastics, Volleyball and five other sports.

“Since June 2018, we have made 46 sperate grant awards to our member federations under the OFI discretionary funding programme, which is made possible thanks to commercial revenues from our sponsors,” said Olympic Federation of Ireland CEO Peter Sherrard.

“Their support and this funding are vital in helping athletes and performance directors realise a wide range of extremely worthy projects, delivering tangible performance and developmental benefits for the athletes.”

“As we close out on this first run of the programme in 2020, our objective is to enhance and expand it the for the next four-year period leading up to Beijing 2022 and Paris 2024.”

“This objective is made all the more important due to the difficulties being faced our sports during the COVID 19 pandemic.”

Many sports had already exceeded the two-award cap placed on this Olympic cycle, making the number of applicants for this latest tranche of funding smaller than previous rounds.

This money is different from the Olympic Solidarity grants paid to member federations and the 12 Tokyo Summer and 7 Beijing Winter Games athlete scholarship awards.

Today’s awards were made following the decision of the discretionary funding committee, chaired by OFI CEO, Peter Sherrard and composed of Tokyo Chef de Mission, Tricia Heberle, Sport Ireland High-Performance Director, Paul McDermott, and Independent consultant, Brian MacNeice of Kotinos Partners.

Bobsleigh and Skeleton, Canoeing Ireland, Ice Hockey, Boxing, Gymnastics and Modern Pentathlon each received €10,000 in funding with €8,000 going to Volleyball and €12,000 to Sailing.