FIFA approves $1.5b Covid-19 Relief fund to member Associations

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A universal solidarity grant of $1m will be made available to all member associations, and an additional grant of $500,000 will be allocated specifically to women's football. In addition, each confederation will receive a grant of $2m," read part of the communication from FIFA

By Bwambale Francisco

As the world is grappling with covid-19 and this disease has greatly affected the sports industry the world football governing body FIFA has come up with a stimulus package to bailout Uganda clubs by the time the sports sector resumes in the country, many associations and federation are going to struggle financially on how they will bounce back.

However, it’s a different case for national soccer body FUFA. Ever since the Coronavirus pandemic hit the world, they have managed to at least get support in terms of funds from FIFA and CAF to support them.

During the FIFA Council convened by videoconference on Thursday, it approved several measures with a view to responding to COVID-19 and helping football around the world in the face of the pandemic.

In the council meeting, FIFA approved $1.5b to be given to member associations.

“The Council unanimously approved the FIFA COVID‑19 Relief Plan, which was 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 $1.5b to assist the football community.

A universal solidarity grant of $1m will be made available to all member associations, and an additional grant of $500,000 will be allocated specifically to women’s football. In addition, each confederation will receive a grant of $2m,” read part of the communication from FIFA.

In the same council meeting, FIFA agreed to extend more financial support to its members through 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 &500,000 will be available and a maximum of $5m. In addition, each confederation will have access to a loan of up to $4m”

This is not the first time FIFA is sending support to its members during this crisis after they did the same in April when $150m (sh570b) was distributed among the 211 national football governing bodies around the world with each entitled to a minimum of $500,000 (sh1.9b).

In May, CAF also wired a total of $10.8m to the 54 members on the continent as part of a relief plan to reduce on the financial crisis within the African football communities during these unprecedented times.

With all this support, it is shocking that FUFA has come out to lend a financial hand to different football clubs in their respective leagues.

Its only the topflight sides who recently came out seek for support from FUFA and if all goes well, they might receive part of the relief fund. 

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