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ZIFA To Receive $1.5 Million COVID-19 Relief Funds From FIFA

3 years agoSat, 27 Jun 2020 06:14:46 GMT
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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 

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