FIFA will provide financial support to federations

The international organization, chaired by Gianni Infantino, assured that the measure seeks to mitigate the consequences generated by the coronavirus

FIFA announced that it will financially support its member federations with almost $ 150 million for each of them, to counter the crisis caused by the coronavirus pandemic and cover operating expenses in the years 2019 and 2020.

The governing body of world football reported that it will send in the next few days to its 211 federations about $ 150 million, $ 500,000 for each federation.

In addition, it pays the pending funds for the years 2019 and 2020 destined to cover operating expenses that are still pending payment under the Forward 2.0 Regulation; This refers in particular to the second payment of 2020, scheduled for July.

Without this decision, the federations would only receive the total funds after having met specific criteria. However, FIFA decided to transfer them “as a measure of active support“, with the aim of “safeguarding football in all member federations”.

With this support, the agency hopes that the federations can “mitigate the negative consequences of COVID-19 in soccer”, that is, “to fulfill the economic or operational obligations that they may have with respect to their personnel and third parties.” In this sense, the agency will ensure that these grants are applied “in full” for the established purpose, and will be subject to audits and standard financial reporting processes.

FIFA President Gianni Infantino noted that the pandemic has caused “unprecedented difficulties” in soccer, and that the duty of the world soccer governing body is “to support those who need it most.” “The first thing is to provide economic support immediately to our member federations, since many are having serious problems in this area”, he stressed.

K. Tovar

Source: FIFA

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