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VTB continues top-tier sponsorship of International Gymnastics Federation

Russian financial services group VTB has renewed its top-tier partnership with the International Gymnastics Federation (FIG).

The new deal will cover the remainder of 2017 and will see VTB provide a $1m (€914,000) donation to the FIG.

The body said the funds would be primarily used to support the development of gymnastics disciplines, and for development funds for continental unions.

Vasily Titov, first deputy chairman of VTB and vice-president of the FIG, said: “I am proud that this partnership between VTB Bank and the FIG is time-honoured and successful. I am convinced that the agreement signed today (Saturday) will, as in previous years, help the FIG to realise concrete and effective projects for the sake of the spread of gymnastics worldwide."

VTB, which first partnered with the FIG in 2009, serves as a top-tier sponsor of the body alongside Cirque du Soleil and Longines.