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FIFA unveils US$1.5 billion global Covid-19 football relief plan

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Nairobi, Kenya, June 27 (Infosplusgabon) - FIFA has approved a Covid-19 relief plan that will make up to $1.5 billion available to support the global football community, the world football governing body said in a press statement on Saturday.

 

 

According to the statement, the relief plan has been designed by the the international federation's  administration in close cooperation with representatives from continental confederations.

 

At the same time FIFA has also teamed up with the Qatar Football Association to deliver a pan-Arab tournament in the Gulf state in late 2021 as part of preparations for the 2022 World Cup.

 

Full details of the plan have been revealed after FIFA announced in April that it would distribute $150m in operational funding due to its member associations for 2019 and 2020, with each of the 211 national governing bodies receiving a minimum of $500,000.

 

The first two stages of the plan also gave member associations the opportunity to transform Forward Development grants into Covid-19 operational relief funds, with a minimum of 50 per cent of released funds to be allocated to women’s football.

 

The third stage, approved by the FIFA  Council on Thursday, centres on a system of grants and loans.

 

A universal solidarity grant of $1million will be offered to all member associations, with an additional grant of $500,000 to be allocated specifically to women’s football. Each confederation will also be given a grant of $2million.

 

Additionally, member associations will be eligible to apply for interest-free loans amounting to up to 35 per cent of their audited annual reviews, FIFA said.

 

Loans will range in value from $500,000 to $5million.

 

Each confederation will have access to a loan of up to $4million

 

 

FIN/ INFOSPLUSGABON/GBN/GABON2020

 

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