Geneva, April 3 (IANS): The International Olympic Committee has said it will give president Thomas Bach 225,000 euros ($243,600) a year to cover his costs.

The IOC said in a statement on Thursday it was making public details of proposed payments to executive board members "with a view to ensuring total transparency", reports Xinhua.

As many as 115 full and honorary members of the board will get an annual payment of $7,000 plus meeting and travel allowances of $450 a day. Travel and accommodation costs are already paid by the IOC.

It is the first time the IOC has revealed details of its indemnity policy and the ethics commission called on others to follow suit.

"The IOC ethics commission invites all the sports organisations of the Olympic movement to establish a similar policy and make this public, in order to increase transparency within the sports," commission chair Youssopha Ndiaye said in a letter to its members on Thursday.