The International Olympic Committee (IOC) and International Paralympic Committee (IPC) have aligned ever more closely after signing a long-term agreement to “enhance the brand” of the Paralympic Games.

The organisations agreed a Memorandum of Understanding in which they both will increase the visibility of the Paralympic Games and ensure the financial sustainability of the IPC. They will also work closely on the implementation of Agenda 2020 – the IOC’s governance and sustainability requirements.

Running through until 2032, the new agreement builds on current partnership and cooperation agreements that were signed prior to the London 2012 Games.

IOC president Thomas Bach said the agreement was an “important milestone”, adding: “The IPC’s focus on sport for all and on high-level performance will enable it to reach more and more people around the world, and to ensure the organisation’s long-term success.”

“The IOC is the IPC’s number one strategic partner and we’re grateful to president Bach and the Olympic Movement for their continued support,” said Sir Philip Craven, IPC president. “We will now work together over the coming weeks and months to finalise the agreement which will take our partnership into a fourth decade and make the Paralympic Movement more self-sustainable.”