AKIPRESS.COM - Oslo is set to withdraw from the race to host the 2022 Winter Olympics, with chiefs saying it is a "missed opportunity".

Norway's ruling party voted against funding the city's bid, leaving Beijing and the Kazakh city of Almaty as the only two potential hosts.

Stockholm, Krakow and Lviv have already pulled out of the race, according to the media reports.

The junior partner in Norway's minority coalition government had already voted against funding Oslo's bid in May.

In a statement, Christophe Dubi, the International Olympic Committee's executive director of the Olympic Games, said: "This is a missed opportunity for the City of Oslo and for all the people of Norway who are known worldwide for being huge fans of winter sports.

"And it is mostly a missed opportunity for the outstanding Norwegian athletes who will not be able to reach new Olympic heights in their home country."

Norway is due to host the Winter Olympic Youth Games in Lillehammer in 2016.