FAI to benefit from enormous FIFA Covid relief fund
The cash-strapped FAI was offered some welcome respite on the financial front on Thursday night with news of FIFA's €1.34bn relief fund which is being made available to associations impacted by the coronavirus and its consequences.
FIFA president Gianni Infantino announced that the fund had been “unanimously approved” by members of the world governing body's council while adding that there would be strict controls built into how the money would be spent.
All 211 of its member associations will be entitled to what is being called a “basic solidarity grant” of roughly €890,000, plus another €445,000 each which has to be ring-fenced for the women's game. That's an extra €1.335m extra funding for the FAI alone.
Member associations can also apply for a Covid-19 relief loan worth 35% of their revenue up to a maximum of €4.46m with Infantino adding that “very clear conditions” would be imposed on how these loans are to be repaid.
FIFA was sitting on a huge pile of financial reserves prior to the pandemic and the body had stated its intention to set up the fund back in March.
"Clubs and federations are in real danger. In some parts of the world, football has not restarted. We need to help them," Infantino said.
