This support should facilitate the next few months for a number of small organizations in troubled football. Fifa released Thursday, June 25, a fund to assist federations of 1.5 billion US dollars (1.32 billion euros) in the form of grants and loans so that they can face the consequences of the coronavirus crisis, its president Gianni Infantino announced on Thursday.

"Fifa has unanimously approved a 1.5 billion dollar aid plan," 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 ".

Each of the 211 member federations will be able to receive 1 million US dollars and an additional aid of 500,000 dollars may 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 will be $ 5 million. In addition, each confederation will be able to receive a loan of $ 4 million.

Endangered clubs and federations

"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 the aid, Fifa will draw from its reserves, namely $ 328 million to cover direct grants and $ 556 million 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 euros) in subsidies to its 211 member federations, i.e. all the aid for the years 2019 and 2020, in order to deal with the consequences of the Covid-19 pandemic.

With AFP

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