World Governing body FIFA has on Thursday announced a new a $1.5 billion Covid-19 relief plan to help deal with the damages done by the pandemic on the global game.
This relief plan will however see FIFA dip into its reserves purse to provide national federations with a number of grants and interest-free loans to cope with budget hits.
Meanwhile this relief plan unanimously backed by the FIFA Council on Thursday, will see national federations receive $1 million dollars to all national associations with an additional $500,000 specifically for women’s football.
Each regional confederation will receive a grant of $2 million.
FA’s will be able to apply for loans, amounting to up to 35% of their audited, annual revenues up to a maximum of $5 million with confederations able to request up to $4 million.
“Both grants and loans can be directed by member associations to the wider football community in their respective territories, including clubs, players, leagues, or others that have been affected by COVID,” said FIFA president Gianni Infantino.
Infantino added that there would be strict controls on the use of funds, audit requirements, as well as clear loan repayment conditions.
However, FIFA president said that no decision has been made on the rescheduling of the new Club World Cup tournament which has been postponed from July 2021 due to the postponement of Euro 2020 and the Copa America.
The council also gave the green light to a new pan-Arab tournament to be played in 2021 in Qatar as a ‘test event’ for the 2022 World Cup.
The invitational competition will be contested by Arab nations from Africa and Asia and feature home-based players only.
The tournament will be held in from 1-18 December 2021 and be run by Qatar’s World Cup organising committee.