Sponsorship program for chess announced by FIDE President Kirsan Ilyumzhinov

FIDE office to be opened in Beirut

FIDE President's visit to Beirut has brought excellent results. After several meetings and high-level talks he announced the sponsorship package worth 2 million US dollars for the next two years. The sponsor will be the International Financial Company "Credit bank". On Wednesday, August 25, the Head of "Credit Bank" Mr. Tarik Khalife has already signed a contract with the Chairman of Global Chess, Mr. Alain Khoueiry and the CEO, Mr. Geoffrey Borg. "According to this agreement, the "Credit Bank" shall provide two million USD for event sponsorship such as the Grand-Prix series for men and women, as well as for a number of other interesting ideas which were discussed," Kirsan Ilyumzhinov said. "The potential in Lebanon is enormous and thank to Mr. Khoueiry, we have found co-operation at the highest levels in Government as well as in the business community."

Another result of Kirsan Ilyumzhinov's working visit to Lebanon – the FIDE representation office to be opened in the capital of Beirut. The premises shall also have the Lebanese Chess Federation offices. "This wonderful building is situated on the central street of the most expensive Beirut's district," FIDE President said. "This office is most likely to become the most lavish among all existing offices. All expenses will be borne by a well-known businessman Alain Khoueiry, who invested into the building around 500000 USD. He will also be the head of the Global Chess branch on Mediterranean and Middle East direction." The main tasks of the representation office shall be popularization and development of chess in the said countries.

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