Denis Oswald and Sebastian Coe in 2006The review is a regular six month update between the IOC and Games organisers.
The review discussed wide range of areas of the London 2012 project - from sport to human resources.
Denis Oswald, IOC Member and head of the delegation said, "Our meetings were very productive and effective.
"Regarding finance, we are very happy with LOCOG’s budget, which was broken down clearly for us, and is balanced and unchanged at around the £2billion mark.
"We also have an understanding of the processes in place by which the government will finalise its budget.
"In the numerous functional areas LOCOG presented to us it was clear that there has been thorough work and progress since the IOC's last visit. We look forward to returning with the full Coordination Commission in June."
1 March 2006
Read the IOC statement
