GOOD NEWS! FIFA To Release £120m To Members In Fight Against Coronavirus

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FIFA is releasing around £120m ($150m) to its national associations whose finances have been badly affected by the coronavirus pandemic.

The game’s world governing body said each of its 211 member countries would receive $500,000 (just over £400,000) in the coming days plus any entitlement under the Forward 2.0 development programme.

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FIFA president Gianni Infantino described it as the “first step” in a wider plan to assist those struggling due to the COVID-19 outbreak.

“The pandemic has caused unprecedented challenges for the entire football community and, as the world governing body, it is FIFA’s duty to be there and support the ones that are facing acute needs,” he said.

“This starts by providing immediate financial assistance to our member associations, many of which are experiencing severe financial distress. This is the first step of a far-reaching financial relief plan we are developing to respond to the emergency across the whole football community.”

FIFA said the next stages of its financial relief plan are being worked on and would be communicated in due course.

FIFA is reported to have cash reserves of around $2.7bn (almost £2.2bn).

The post GOOD NEWS! FIFA To Release £120m To Members In Fight Against Coronavirus appeared first on Naijaloaded | Nigeria’s Most Visited Music & Entertainment Website.


Source: News update

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