International Olympic Committee and International Paralympic Committee presidents, Thomas Bach and Andrew Parsons, signed a historic long-term agreement on Saturday to establish a partnership of the two organizations until at least 2032.
The new agreement, signed in Pyeongchang, South Korea, on the opening day of the Winter Paralympic Games, builds on the current partnership and cooperation agreements that were signed prior to London 2012, Insidethegames.biz reported.
As a result of the new partnership, IOC will continue to make it obligatory for any host of the Olympic Games also to organize the Paralympic Games.
It will also see the IOC and IPC work together to increase the visibility of the Paralympic Games and enhance the Paralympic brand.
Additionally, the two organizations will deepen cooperation, specifically on the implementation of Olympic Agenda 2020, the strategic roadmap for the future of the Olympic Movement.
It is hoped agreement will give financial stability to IPC for at least the next 14 years, from which the whole Paralympic Movement will benefit.
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