Formally permitted in July, the FIFA Fund is receiving the US $ 1.5 billion for its 211 member associations and 6 confederations.
On Wednesday, FIFA introduced what it believes is a coronavirus pandemic worth an estimated $ 14 billion in the worldwide football financial system.
‘A FIFA spokesman instructed BBC Sport Africa, “Fifty African member associations have access to the grant.’
FIFA has additionally revealed that more than 150 countries have already used such a scheme, meaning that Africa makes such requests in about 3 countries.
Each member affiliation can apply for a grant of $ 1.5m, of which 3 are required to spend on women’s soccer – a key aspect of the ‘COVID relief scheme’, FIFA says.
The Confederation can apply for $ 2m in funding, with 4 of FIFA’s six Confederations having achieved it. BBC Sport Africa understands that the African Football Confederation is not just in the midst of them, even after suspending one-third of income tournaments and dealing with an authorized invoice that would have led to thousands more after the cancellation of a multi-billion dollar deal. Thousands will be in 12 months.
There is no time limit on the request for a loan, which means that each member association and federation can apply once and as desired. The current Governor of the Bank of Finland, Rehan, said that all funds should conduct full auditing and compliance check to ensure that they get their vacation spot.
The 58-year-old directors said, “This is at the heart of this COVID deduction fund.” “We request and require full compliance with very good auditing requirements. Corruption has no place in football.”
Two audits can be conducted on all funds dedicated to nations, one done by the federation itself while the opposite can be done by an auditor approved by FIFA.
Under the plan, nations can also apply for interest-free loans starting at $ 0.5-5m that cannot exceed 35% of the federation’s annual revenue.
Meanwhile, confederations may enter into the loan of more than $ 4m to meet various standards.