The FIFA Council, which convened by videoconference last week, unanimously approved the FIFA COVIDā19 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 available up to US$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 operationalācost payments to Member Associations and, subsequently, for the opportunity to transform Forward development grants into COVID-19 operational relief funds ā with a minimum of 50% of released funds to be allocated to womenās football.
In stage three, approved by the Council on Thursday, further financial support will be provided through a system of grants and loans:
GRANTS: a universal solidarity grant of US$1 million will be made available to all Member Associations, and an additional grant of US$500,000 will be allocated specifically to womenās football. In addition, each Confederation will receive a grant of US$2 million.
LOANS: 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 US$500,000 will be available and a maximum of US$5 million. In addition, each Confederation will have access to a loan of up to US$4 million.
To ensure effective oversight of the plan, there will be strict controls on the use of funds, audit requirements, as well as clear loan repayment conditions.
A FIFA COVID-19 Relief Plan steering committee will also be established to supervise the administration of the scheme.Ā
