FIFA is to make available $1.5bn in grants and loans as a relief fund to help associations impacted by the coronavirus, world football’s governing body announced on Thursday.
Gianni Infantino, the FIFA president, said the relief fund had been “unanimously approved” by the members of its council and insisted there would be “strict controls” on how the money is spent.
In addition, member associations can also apply for a COVID-19 relief loan worth 35 percent of their revenue up to a maximum of $5m each. Continental governing bodies will get $2m as a relief grant, and can also apply for an extra $4m relief loan. FIFA is financing the enormous relief fund by dipping into its reserves, with $328m covering grants and $556m to finance loans, Infantino said.
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