Friday, January 10, 2014

Brazil: Francis donates 3, 6 million Euros to cover WYD debts

A moment during the WYDThe Brazilian press informed that the Rio 2013 World Youth Day organising committee has received a sum of 3, 6 million Euros from Pope Francis to help cover the debt accumulated from last July’s youth event.
An audit carried out by professional services firm Ernst&Young revealed that WYD 2013 in Rio ended with a debt of 28, 3 million Euros (the equivalent of 91, 3 million Brazilian Reals).
Part of the cost was covered through the sale of an important building owned by the Archdiocese (which was rented by a clinic) and through donations amounting to a total of 4 million Euros, passes, commercial licences and other minor forms of revenue. 

€6.26 million of the 28, 3 million Euro debt was accumulated by paying suppliers and 22, 92 million as a result of other general expenses.

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