FIVB announces launch of Volleyball Foundation

GENEVA, May 31 (Xinhua) -- The International Volleyball Federation (FIVB) announced Friday that the newly launched FIVB Volleyball Foundation had raised 559,000 Swiss francs (about 619,108 U.S. dollars) through donations and an auction.

The launch event was held at the FIVB headquarters in Lausanne, Switzerland, on Thursday.

The world volleyball governing body plans to allocate an annual budget of one mil