(JTA) — The International Olympic Committee will contribute $250,000 toward a memorial to the  nine Israelis killed by Palestinian terrorists at the 1972 Munich Games.

The donation was approved by the IOC, the organization confirmed Thursday to the Associated Press.

The German Olympic Sports Confederation has pledged $27,000 to the $2.3 million project, which also will be funded by German taxpayers.

The memorial, whose design will be unveiled in Sept. 19, is set to be completed in fall 2016.

Bach, who most recently served as IOC vice president, supported the refusal of the IOC to hold a moment of silence at the 2012 Summer Olympics for the  nine Israelis killed by Palestinian terrorists at the 1972 Munich Games.