FIFA unveils details of financial support to AFFA

The FIFA Council convened by videoconference today and made important decisions for the future of football, Report says, citing the official website of structure.

The Council unanimously approved the FIFA COVID‑19 Relief Plan, designed by the FIFA administration in close cooperation with representatives of the confederations. Across its three stages, this global support plan will make 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 today, the organization will provide further financial support through a system of grants and loans:

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

Member associations will be able to apply for interest-free loans amounting to up to 35% of their audited annual revenues. In the interest of solidarity, a minimum loan of USD 500,000 will be available and a maximum of USD 5 million. Moreover, each confederation will have access to a credit of up to USD 4 million.