Kenya is expected to benefit from the Fifa massive Sh160 billion COVID-19 relief plan

  • The three East African countries Tanzania, Kenya, and Uganda football federations are expected to receive further financial relief from Fifa designed to help them cope with the effects caused by the coronavirus outbreak.

Just like their global counterparts, the three-member association will receive $1 million after the Fifa council unanimously approved the COVID‑19 relief plan.

The financial injection that will see the world governing body avail up to $1.5 billion to the member associations is expected to be released in three stages.

“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,” Fifa announced.

  Eintracht Frankfurt vs Freiburg Prediction: Bundesliga Match on 26.05.2020

According to the statement from Fifa, the said financial support will be provided through a system of grants and loans.

“On grants, a universal solidarity grant of $1 million will be made available to all member associations, and an additional grant of $500,000 will be allocated specifically to women’s football,” Fifa’s statement continued.

BONUS

Claim 100% Welcome Bonus up to 15 000 KSH!

99%
TOTAL SCORE

“In addition, each confederation will receive a grant of $2 million.

“On 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 $500,000 will be available and a maximum of  $5 million.

  Lazio vs AC Milan Preview Prediction: Serie A Match on 4.07.2020

“In addition, each confederation will have access to a loan of up to $4 million.”

As most leagues in Africa remain suspended and others canceled, Fifa has given the federations the go-ahead to help other football stakeholders like clubs.

“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,” Fifa added.

The Switzerland-based body has set strict measures to ensure the funds are used objectively, appointed Olli Rehn to lead the steering committee.

“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.

  Nyamweya demands investigation and prosecution over FKF alleged misappropriation of funds

“A Fifa Covid-19 Relief Plan steering committee will also be established to supervise the administration of the scheme,” it stated.

Leave a Reply

Your email address will not be published. Required fields are marked *