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The Deputy Prime Minister, Dmitry Kozak, confirmed during a work trip to Sochi on Friday that the 2014 Olympic and Paralympic Winter Games will cost 185 billion rubles. This includes 80 billion rubles from public funds, with the remainder being sourced from private investors. Mr Kozak also confirmed that the preparation for the Winter Games is fully on-track.

Dmitry Kozak, who supervises the delivery of the Sochi 2014 Olympic and Paralympic Winter Games said:

"I visit Sochi regularly and each time I come, I see a number of positive changes. Residents that have moved into their new houses are very happy. The International Olympic Committee’s independent experts have also praised the progress that we have been making."

The Deputy Prime Minister declared that approximately 12 billion rubles will be spent on the relocation of residents whose properties are affected by Games construction. The exact figure will be confirmed following the valuation of all affected properties.

Kozak highlighted that while Sochi 2014 will be delivered in line with its plans, there were a few additional projects that needed to be included in Sochi 2014 plans. An example of this is the road that runs to the Imeretskaya Port, which is owned by the city of Sochi, and needs to be renovated.