The present deal, which runs up to and including the 2012 Olympic and Paralympic Games, will now be extended to include the 2014 and 2016 Games.
The extension alters little to the earlier contract, but will lead to an increase in funding for the IPC of 25 percent for 2014 and 20 percent for 2016.
IOC president Jacques Rogge said: “The IOC and the IPC have had a long and fruitful relationship and it is with great pride that we are able to re-sign this agreement with the IPC and ensure that the Olympic and Paralympic Games continue to be held in the same host cities until 2016.”
Crucial to the agreement is that the Paralympic Games will be staged in the same city as the Olympic Games.
