The FIS has revealed details of its COVID-19 financial support to members ©Getty Images

The International Ski Federation (FIS) is set to distribute a total of CHF5 million (£4 million/$5.4 million/€4.6 million) to its Member Associations as part of its COVID-19 relief funding package.

FIS President Johan Eliasch said the money will help "mitigate the financial pressures" on its members following the coronavirus pandemic."

Eliasch, elected FIS President in June, also revealed skiing's worldwide governing body would contribute more than CHF4 million (£3.2 million/$4.3 million/€3.7 million) towards prize money for event organisers.

"COVID-19 will affect us into the foreseeable future," Eliasch said. 

"Many of our National Ski Associations (NSAs) suffered severe financial hardship due to the outbreak during the last season and are continuing to suffer," the Swedish billionaire said. 

"We know that only together we can get through this challenging time.

The FIS has made a contribution to prize money given out by event organisers ©Getty Images
The FIS has made a contribution to prize money given out by event organisers ©Getty Images

"That is why FIS has decided to offer additional support.

"This distribution of CHF5 million was unanimously approved by the Council and we hope that it will help our NSAs to face the challenges that are posed by the pandemic.

"It is essential that in these unprecedented times the FIS family stands together and keeps the development and the promotion of our sport alive."

Shortly after Eliasch's election, the FIS published accounts for the COVID-impacted year of 2020 that were significantly better than originally budgeted.

The Federation disclosed an overall profit for the year of CHF1.47 million (£1.16 million/$1.64 million/€1.35 million).

Though modest, this compares with a loss of CHF14.3 million (£11.3 million/$15.9 million/€13.1 million) originally projected in a working budget posted on the body’s website.

Income was far better than originally forecast at CHF22.8 million (£18 million/$25.5 million/€21 million).