ZIFA To Receive $1.5 Million COVID-19 Relief Funds From FIFA
ZIFA will soon receive $1.5 Million COVID-19 relief funds from FIFA, $1 Million for men’s football, clubs and players and half a million for women football, The Herald reports.
According to the publication, the funds are part of the $5 Billion grant FIFA is extending to member associations to help clubs mitigate the effects of the pandemic that has slowed down economic activities worldwide.
FIFA reportedly held a virtual meeting on Thursday and made the following resolution:
Grants, a universal solidarity grant of USD 1 million will be made available to all member associations, and an additional grant of US$500,000 will be allocated specifically to women’s football. In addition, each confederation will receive a grant of US$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 US$500,000 will be available and a maximum of US$5 million. In addition, each confederation will have access to a loan of up to US$4 million.
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ZIFA is on record saying it was still financially OK despite the pandemic that has wreaked havoc in all sectors worldwide.
More: The Herald