FIFA has approved an F 1.5 billion Coronavirus Relief Fund for World Football



FIFA must provide $ 1.5 billion in grants and loans to influence the unions, announced by the World Football Governing Council on Thursday.


FIFA President Gianni Infantino has unanimously approved the Relief Fund by its council members and stressed that there is "strict control" over how the money is spent.

A total of 1 million "basic solidarity grants" should be invested in all women's football, as well as a total of $ 500,000 for all 211 member clubs.

In addition, member unions may receive up to 35 percent of their income for COVID-19 aid loans, up to a maximum of $ 5,000. Continental Governance receives 2 million as a relief grant and may apply for an additional 4 million as a relief loan.

Infantino promised "strict control over the use of the fund with an audit" and said there would be "very clear terms" on how the loans would be repaid.

Infantino said FIFA is funding a massive relief fund by dipping its reserves to $ 328 million and $ 556 million in debt.

"Clubs and federations are in real danger. In some parts of the world, football has not resumed. We need to help them," he said.

FIFA announced the establishment of a relief fund in March when the spread of football spread across the globe as the epidemic spread.

The Zurich-based company has already announced in April that it will provide a $ 150 million subsidy to member communities to help deal with the consequences of the crisis.

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