Pope helps bail out Rio World Youth Day

January 20, 2014

Pope Francis has pledged a donation of almost $5 million to help pay part of the debt incurred by the Archdiocese of Rio de Janeiro for World Youth Day, said the local organizing committee.

A statement from the committee said the pope recognized "the great effort made by the local organizing committee to hold World Youth Day in Rio de Janeiro and demonstrated his intention to financially help pay off part of the investments made" for the event.

An independent audit of the event confirmed that on Aug. 31, World Youth Day had an accumulated debt of US$38.4 million.

After renegotiating with suppliers and selling a property, the Archdiocese of Rio de Janeiro was able to reduce the debt to a little over US$18 million.