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Lottery funding for Olympics reaches £375m

The National Lottery has raised £375 million for the London 2012 Olympics and Paralympics, it was announced today.

It means that the £750 million target from sales of specially-designed lottery games has hit the half-way mark, the Olympic Lottery Distributor said.

The announcement comes as the first sporting venue for the London 2012 Olympics is completed, with end of construction at the Weymouth & Portland Sailing Academy.

The world-class facility will play host to 400 athletes competing in 10 Olympic sailing categories.

Land has been reclaimed in front of the Academy to form a new slipway. A 200 metre breakwater, a new pier and a new pontoon to provide 70 berths for race-boats have also been created.

New Lottery investment in Weymouth & Portland builds on Sport England's investment of more than £3 million of Lottery funding in the creation of the National Sailing Academy which opened in 2005.

National Lottery funding will contribute almost £2.2 billion to the public funding package for the London 2012 Olympic and Paralympics Games, of which £750 million will come from specially designated Lottery games.

This will help fund five major facilities - including the Olympic Stadium, a new velopark, aquatics centre, handball arena and hockey centre.