MOSCOW, September 29 (RIA Novosti) - Russia...
"The money is mainly intended for the construction of roads, sports facilities and to relocate people," Alexander Novak said.
However, he declined to comment on earlier media reports that the Olympics were expected to cost over one trillion rubles.
Russian business daily Vedomosti reported earlier citing data from the Ministry of Regional Development that 1.054 trillion rubles is to be spent between 2009 and 2012 on a government program for the construction of Olympic facilities, with 699.3 billion rubles allocated from the federal budget.
Novak said that the volume of financing for 2011 and 2012 had not been determined yet.
Sochi won the right to host the Olympics at an IOC session in Guatemala in July 2007 after a close race with South Korea"s Pyeongchang and Austria"s Salzburg.
Russia has never hosted the Winter Olympics and Moscow"s hosting of the Summer Games in 1980 was marred by a U.S.-led boycott involving more than 60 countries.