SportBusiness.com

IRB announces £48m investment scheme

The International Rugby Board has announced a £48 million investment programme aimed at raising standards of the sport's developing nations.

The High Performance Investment Programme, which will benefit 22 countries as the IRB continues to try to grow the sport, represents a 20 percent increase on the funding package for developing nations between 2006 and 2008.

IRB chairman, Bernard Lapasset, said:"I am pleased to say the continued success of Rugby World Cup now means we can invest a further £48 million in the game's continued development". Lapasset said the IRB's commitment to developing unions was already producing results, pointing to the performances of Argentina and Fiji at last year's Rugby World Cup.

The £48 million is on top of the IRB's annual budget for grants, tournament funding and various training programmes meaning a total investment of £153 million earmarked for the 2009-2012 period. Russia, Namibia and Spain will are set to benefit from the next cycle of investment.