The event, which began yesterday, features cycling and entertainment activities in the Olympic venue in the first staging of the event.

It includes the Rio de Janeiro State Championship, while the Rio Times states BMX freestyle presentations and a business exposition related to cycling are also being held.

Admission to the Rio Bike Fest is free, with the public able to visit the facility for the first time since the Olympic and Paralympic Games.

Organisers reportedly hope the event will promote the velodrome as the major training facility in the region.

The Rio Bike Fest is due to conclude tomorrow with members of the public able to take part in a 20 kilometre ride in the city.

Located on the Barra Olympic Park, the velodrome has been one of the venues where concerns have been expressed over its legacy.

Prosecutor Leandro Mitidieri, presenting at a Governing Authority of the Olympic Legacy (AGLO) meeting on Monday, delivered a highly critical assessment of the Olympic legacy.

He claimed the city of Rio de Janeiro had failed to plan for the transfer of key venues, including the Velodrome, Tennis Centre and Carioca Arenas 1 and 2.

A public bidding process was reportedly set to take place, but Mitidieri claimed this had failed and venues were passed to the Brazilian Government without any plan.

There has been some limited progress recently in the efforts to fulfill other parts of the Rio legacy.

Rio City Hall officially opened Carioca Arena 3, one of the venues used last year in the Olympic Park at Barra de Tijuca, to the Brazilian public earlier this month.

The venue staged taekwondo and fencing competitions at the Rio 2016 Olympics, before hosting judo and wheelchair fencing at the Paralympic Games.

Badminton, table tennis and trampolining are set to be among sports housed in the venue for public use.

Part of the Barra da Tijuca Olympic Park was opened to the public in January, with the Via Olímpica now used for skating rinks, multi-sport courts and a series of other sporting activities.

A part of the Deodoro Olympic Park was returned to the military and is being used by them and is also being used as the Brazilian Olympic Committee's training centre.

The section of the park containing the BMX and canoe slalom venues was closed in January when a management contract came to an end, however it is claimed it could open again by the end of June after a tender process.

A report detailing the cost of the Rio 2016 Olympic and Paralympic Games is due to be published on June 14.