Posted: Friday, June 26, 2020. 3:48 pm CST.
By BBN Staff: FFB executive member Marlon Kuylen confirmed on Thursday that Belize is receiving US$1.5 million to restart football, though no date has been set.
Explained Kuylen, “Once we receive the restrictions and regulations, we shall meet to organize how these funds will be disbursed. In our surveys conducted, we already have an idea what it will cost to restart.”
In total, FIFA has approved a COVID-19 Relief Plan that will make available US$1.5 billion globally to assist the football community, designed by the FIFA administration in close cooperation with representatives of the confederations.
In the first two stages of the plan, FIFA provided for the immediate release of all Forward operational‑cost payments to member associations and, subsequently, for the opportunity to transform Forward development grants into COVID-19 operational relief funds – with a minimum of 50% of released funds to be allocated to women’s football .
In stage three, approved by the Council this week, further financial support will be provided through a system of grants and loans:
Grants: a universal solidarity grant of USD 1 million will be made available to all member associations, and an additional grant of USD 500,000 will be allocated specifically to women’s football. In addition, each confederation will receive a grant of USD 2 million.
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 USD 500,000 will be available and a maximum of USD 5 million. In addition, each confederation will have access to a loan of up to USD 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.
Governance model: to ensure effective oversight of the plan, there will be strict controls on the use of funds, audit requirements, as well as clear loan repayment conditions. A FIFA COVID-19 Relief Plan steering committee will also be established to supervise the administration of the scheme.
Olli Rehn, the deputy chairman of the FIFA Governance Committee, has been appointed to lead this committee. He is also the Governor of the Bank of Finland, a member of the Governing Council of the European Central Bank and a former Vice-President of the European Commission.
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