The Nigeria Football Federation (NFF) will be N600 million ($1.5 million) richer when FIFA releases the COVID-19 relief fund to each of its national associations across the world.
The coronavirus relief plan for world football which gulped up to £1.2 billion ($1.5 billion) has been announced by FIFA.
All member associations will be given a universal solidarity grant of $1m, with an additional $500,000 grant specifically for women’s football. Each confederation like CAF will also receive a grant of $2 million.
The game’s governing body has revealed its three-step plan, which includes specifically allocated funding to help women’s football through the Covid-19 crisis.
In a lengthy statement, FIFA also confirmed a number of changes to the men’s international match calendar, including a new pan-Arab tournament to be played in Qatar in 2021.
The FIFA Council convened by videoconference on Thursday to approve the new developments.
The first two stages of the coronavirus relief plan saw member associations receive forward operational-cost payments in advance, with forward development grants able to be converted into Covid-19 operational relief funds. A minimum of 50 per cent of these funds were to be allocated to women’s football.
Yesterday saw the approval of stage three, with further financial support to be provided through grants and loans to member associations.
In terms of loans, member associations are able to apply for interest-free loans amounting to up to 35 per cent of their audited annual revenues. Loans will be between $500,000 and $5 million. Each football confederation will also be able to access a loan of up to $4 million.
(The Nation)
