Lausanne (AFP)

Fifa released a fund to help federations of 1.5 billion dollars (1.32 billion EUR) in the form of grants and loans to cope with the consequences of the coronavirus crisis on Thursday, its president Gianni announced on Thursday. Infantino.

"Fifa has unanimously approved an aid plan of 1.5 billion USD," said Infantino, after a virtual meeting of the Council of Fifa, adding that the International Federation would exercise " strict control over the use of funds ". The advance payment of USD 150 million in aid to federations had already been announced in April.

Each of the 211 member federations can receive USD 1 million and additional assistance of USD 500,000 can be allocated to help women's football.

Other assistance will be available in the form of interest-free loans, which may reach up to 35% of the income of each federation. The minimum amount of each loan will be $ 500,000 and the maximum of $ 5 million. In addition, each confederation will be able to receive a loan of USD 4 million.

"We will exercise strict control over the use of funds, with audits, and there will be very clear conditions for reimbursement," said Infantino.

To finance this aid, Fifa will draw from its reserves, namely 328 M USD to cover direct subsidies and 556 M USD to finance loans, said Infantino.

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

The creation of this football aid fund was announced in March by Fifa.

At the end of April, the Zurich-based body announced the advance payment of 150 million dollars (138 million EUR) in subsidies to its 211 member federations, i.e. all the aid for the years 2019 and 2020, in order to cope the consequences of the Covid-19 pandemic.

© 2020 AFP