FIFA approved an aid plan for the world of football to cope with the COVID-19 pandemic, by which will make available to it $ 1.5 billion with grants and loans, and a revised budget for the 2019-2022 cycle.
Unanimously, the Council of the organization, meeting by videoconference, gave the green light to this aid plan, designed by the FIFA administration in close cooperation with the confederations, the third stage of which includes grants and loans, after having freed the federations from a series of payments.
As reported by FIFA, a universal solidarity donation of $ 1 million will be awarded to all associations member, and will be assigned an additional donation of another 500,000 specifically to women's football. Every Confederation will also receive a grant of $ 2 million.
Regarding loans, federations may request them without interest for an amount of up to 35% of their annual audited income, and for the sake of solidarity there will be a minimum loan of $ 500,000 and a maximum of $ 5 million. Each confederation will have access to a loan of up to $ 4 million.
The federations may direct both subsidies and loans to the football community in general in their respective territories, including clubs, players, leagues or others that have been affected.
For the first two stages of the plan, FIFA immediately released federations from all 'Forward' operating cost payments, with the opportunity to transform the development grants of this same program into COVID-19 operational aid funds, with the allocation to women's football of a minimum of 50% of the funds released.
FIFA will carry out strict controls on the use of funds, raudit requirements, as well as clear loan repayment conditions to guarantee compliance with the plan through a steering committee to be chaired by Olli Rehn, vice-president of the FIFA Governance Commission, Governor of the Bank of Finland, member of the Governing Council of the European Central Bank and former Vice President of the European Commission.
Council members also approved the 2021 annual budget and the revised one for the 2019-2022 cycle, after an evaluation of the financial impact of the pandemic, although the forecast is that at the end of this cycle the level of surplus will be the same.