Friday, August 14, 2020
Sports

FIFA members set to receive $1 million after COVID-19 relief plan approved

For the second phase, members have been given the ability to transform remaining development project grants into operational relief funds.

Following approval from the Bureau of the Council, will implement the third phase, comprising a universal solidarity grant of $1 million for all members as well as an additional grant of $500,000 (£385,000/€425,000) for women’s football.

An additional $2 million (£1.42 million/€1.7 million) will be offered to each Confederation, with all full amounts being made available by January 2021.

There will also be interest-free loans to all member associations amounting up to 35 percent of their audited annual reserves, with a minimum loan entitlement of $500,000 and a maximum of $5 million (£3.85 million/€4.25 million).

Each Confederation will also be entitled to $4 million (£2.84 million/€3.4 million) in loans.

These funds will be made available for Member Associations to use for the restart of activities and competition, implementation of return-to-play protocols, the participation of national teams in competitions, the hiring and re-hiring of staff, the maintenance of football infrastructure and general administration and operating costs.

has raided its considerable reserves to finance the relief plan.

Leave a Reply