Geneva, Jun 1 (IANS): The International Volleyball Federation (FIVB) announced Friday that the newly launched FIVB Volleyball Foundation had raised 559,000 Swiss francs (about 619,108 U.S. dollars) through donations and an auction.
The launch event was held at the FIVB headquarters in Lausanne, Switzerland, on Thursday, reported Xinhua.
The world volleyball governing body plans to allocate an annual budget of one million Swiss francs (about 1.11 million U.S. dollars) for the Volleyball Foundation in 2025 and 2026.
FIVB and Volleyball foundation president Ary S. Graca F said, "The Volleyball Foundation will play a vital role in promoting positive social values, helping to create a more collaborative and harmonious world."