Sochi Winter Olympics 2014, luge
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Russian billionaire Oleg Deripaska: Why I funded Sochi

10 February 2014 Last updated at 10:11 GMT

While much of the funding for the 2014 Sochi Winter Olympics has come from the Russian taxpayer, billionaire businessman Oleg Deripaska has also invested heavily in the event.

He explained to the BBC's Daniel Sandford that he gave the money to bring investment to the area where he grew up and help develop the region.

Mr Deripaska said that his investment "will pay back" in the long term, creating 200,000 jobs in the area and developing the region over the next 20 years.

First broadcast on BBC Radio 4's Today programme on Monday 10 February.