FIFA Announces $1.5 Billion Covid-19 Relief Fund

To Make A Total Of $1.5 Billion Available To Football

The international governing body of association football in a videoconference on Thursday announced a coronavirus relief plan for world football which could cost up to £1.2 billion ($1.5bn)

The Council unanimously approved the FIFA COVID‑19 Relief Plan, which was designed by the FIFA administration in close cooperation with representatives of the confederations. Across its three stages, this global support plan will make available up to USD 1.5 billion to assist the football community.

In the first two stages of the plan, FIFA provided for the immediate release of all Forward operational‑cost payments to member associations and, subsequently, for the opportunity to transform Forward development grants into COVID-19 operational relief funds – with a minimum of 50% of released funds to be allocated to women’s football .

In stage three, approved by the Council yesterday, further financial support will be provided through a system of grants and loans:

Grants: a universal solidarity grant of USD 1 million will be made available to all member associations, and an additional grant of USD 500,000 will be allocated specifically to women’s football. In addition, each confederation will receive a grant of USD 2 million.

And in terms of loans, member associations are able to apply for interest-free loans amounting to up to 35 per cent of their audited annual revenues. Loans will be between $500,000 and $5m. Each football confederation will also be able to access a loan of up to $4m.

The statement added: “Both grants and loans can be directed by member associations to the wider football community in their respective territories, including clubs, players, leagues, or others that have been affected.”

leave a reply