How we work?
The LNOC’s activities are funded by UAB Olifėja (the LNOC owns 51% of Olifėja’s shares), the International Olympic Committee, sponsors and partners, and the LNOC’s subsidiary organization the Lithuanian Olympic Fund.
The LNOC’s budget for 2019 was EUR 10.16 million. Based on the LNOC’s activity and budget plan for 2019, about 80% of the budget would be spent on funding the Olympic sports. The remaining 20% of the budget go towards funding the Olympic programmes, the partial funding of the Lithuanian umbrella sports associations’ programmes, target subsidies of the IOC and the EOC, funding of organizational activities, awards, and the activities of the LNOC’s directorate.
