The City Council approved Reykjavík Mayor’s Vilhjálmur Th. Vilhjálmsson’s suggestion yesterday, regarding Iceland’s capital becoming the Chess Capital of the world by 2010.
According to Fréttabladid, the City plans to support the project with ISK three million (EUR 34,000, USD 44,000). The project will be undertaken by the recently founded Chess Academy of Reykjavík.
The Chess Academy is a private institution designed to further interest of chess in Reykjavík, which cooperates with the Chess Federation of Iceland, several chess clubs, elementary schools and companies in Reykjavík.
The Academy will also organize the annual Reykjavík Chess Tournament which attracts international chess players, as Morgunbladid reports.
According to Fréttabaldid, the Reykjavík Chess Academy is currently looking for contributions to reach an initial capitalization of ISK 20 million (EUR 225,000, USD 296,000).