SYDNEY, July 3 (Xinhua) -- The Australian state of Queensland has reached a co-funding agreement with the federal government to deliver the venues for the Brisbane 2032 Olympic and Paralympic Games.

The federal and Queensland governments on Thursday announced a deal to jointly fund the 7.1 billion Australian dollars (4.6 billion U.S. dollars) 2032 Games Venue Infrastructure Program.

Under the deal, the federal government will provide 3.4 billion Australian dollars (2.2 billion U.S. dollars) of the total funding for 17 new and upgraded venues, with the state government to provide the remaining amount.

Of the federal government's funding, 1.2 billion Australian dollars (789 million U.S. dollars) will go towards the planned new 63,000-seat stadium at Victoria Park, two kilometers north of central Brisbane, which will host the opening and closing ceremonies as well as the athletics competitions in 2032.

The state and federal governments will evenly split the funding for the construction of minor venues and 584 million Australian dollars (384 million U.S. dollars) in federal funding will be held in reserve.

Announcing the deal in Brisbane, Queensland Deputy Premier Jarrod Bleijie said it delivered certainty over infrastructure for 2032.

"Today's landmark agreement is the beginning of a new partnership that sets the pathway to deliver 2032 as the best Games ever," he said.

"Let the Games, let the legacy, let the construction begin for 2032."

He added that investigative works had begun at Victoria Park on Thursday to inform the final design and exact location of the stadium. ■