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Geneva, June 1 (HS). The International Volleyball Federation (FIVB) announced on Friday that the newly formed FIVB Volleyball Foundation has raised 559,000 Swiss francs (about 619,108 US dollars) through donations and auctions.
The launch event was held at the FIVB headquarters in Lausanne, Switzerland on Thursday. The world volleyball governing body plans to allocate an annual budget of one million Swiss francs (about US$1.11 million) for the Volleyball Foundation in 2025 and 2026.
“The Volleyball Foundation will play a key role in promoting positive social values, helping to build a more cooperative and harmonious world,” Ary S. Graça F., President of the FIVB and Volleyball Foundation, said in an official statement.
“Through this project, volleyball can truly contribute to delivering the Olympic values and making the world a better place through sport,” International Olympic Committee (IOC) President Thomas Bach said at the event.