By NICK GIONGCO
The Philippine Olympic Committee (POC) approved on Thursday a resolution creating an Athletes Incentives Trust Fund that will serve as another source of financial reward for winners from the Olympic Games, Asian Games and the Southeast Asian Games (SEAG).
POC President Bambol Tolentino said the board resolution was approved unanimously and that to jumpstart the POC’s noble undertaking, he is going to put up a seed money worth P10 million.
“I am going to start the ball rolling with P10 million and hope the others will follow,” said Tolentino, stressing that the private sector will be eyed to lend a hand in the project.
Tolentino said even ordinary individuals can contribute as the POC hopes to provide additional funding to medalists from the Olympics, Asian Games and SEAG.
“There is no small amount when it comes to helping,” said Tolentino.
Under the law, winning athletes are rewarded with handsome incentives from the government.
Tolentino said that while he doesn’t see the POC matching what the government can afford to give, what the POC can gather will be substantial enough.
The amount collected will be used solely for the purpose of rewarding achievers “and not for any other purpose,” added Tolentino.
Meanwhile, the POC formally recognized during the same board meeting three groups as associate members: obstacle course, underwater hockey and e-sports.
