June 26, 2020
Harare, Zimbabwe, June 26 (Infosplusgabon) – Next month, the Zimbabwe Football Federation (ZIFA) will receive its first million dollar tranche from the governing body of world football, FIFA, as part of the fund Covid-19 rescue.
These funds are part of the 1.5 billion US dollars that the FIFA Council unanimously approved at its virtual meeting on Thursday and will allow each of the 211 member federations to receive grants.
The first tranche of $ 500,000 is expected to arrive next month and the second in January next year.
FIFA has declared that an additional subsidy of 500,000 US dollars will be allocated to women’s football. In addition to the grant, FIFA has declared that member federations may apply for interest-free loans amounting to 35% of their audited annual income and that, in the spirit of solidarity, a minimum loan of US $ 500,000 and a maximum 5 million US dollars will be available.
Grants and loans can be made by member associations to the entire football community in their respective territories, including clubs, players, leagues or others who have been affected by the pandemic that has crippled football and sports in general around the world.
In order to ensure effective monitoring of the plan, there will be strict fund controls, audit requirements as well as clear conditions for loan repayment.
A steering committee for the FIFA Covid-19 assistance plan will also be created to oversee the administration of the plan.
This committee will be chaired by the vice-chairman of the FIFA governance committee, Olli Rehn.
In a circular to the member federations, FIFA declared that the emergency plan was established to alleviate the financial distress caused by the impact of the Covid-19 pandemic and that the funds available in the third phase of the plan relief should be used for relevant losses that have been or are expected to be incurred, as well as to meet needs that have arisen or are anticipated as a result of Covid-19.
FIN / INFOSPLUSGABON / OLK / GABON2020
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