World leaders warned Olympic ideal threatened by racism, war

On the eve of the Paris Opening Ceremonies, world and business leaders were warned a that racism, war, violence and equality are a threat to the Olympics.

Senegal president Diomaye Faye told an Olympic summit of leaders on Thursday that sport can longer allow hate speech and xenophobia to become accepted.

With his country slated to host the 2026 Youth Olympic Games, Faye said the “Olympic ideal is today challenged by the tragedy of war, by violence in every form, and by the ever-rising inequality among nations.”

The summit also saw world and business leaders pledge billions of dollars in financing and committed to supporting various sporting initiatives aimed at accelerating sustainable development, one day before the Olympic Games officially open.

About 500 participants, including 50 heads of state and government, attended Thursday’s summit championed by French President Emmanuel Macron and International Olympic Committee President Thomas Bach near the Louvre Museum.

The leaders agreed on commitments in the fields of education and employment, health and nutrition, equality, inclusion and sustainability, among other topics.

A coalition of public development banks and other financial institutions pledged to invest $10 billion across the world for community-based, inclusive and sustainable sports infrastructure by 2030.

The French Development Agency said it will release 500 million euros ($543 million) for sustainable development in sports by 2030.

The IOC also announced a 10% increase in its budget dedicated to Olympic solidarity, amounting to $650 million for 2025-2028.