The financial distress that the global health crisis has brought on the world’s football community prompted the football organization FIFA to issue financial support for its 211 member nations, including Lebanon.
On Thursday, the ruling council of the International Federation of Association Football (FIFA) unanimously approved a COVID-19 relief plan comprising of $1.5 billion, to be distributed among its six continental governing bodies.
The governing bodies, CAF (Africa), AFC (Asia), CONCACAF (North and Central America and the Caribbean), CONMEBOL (South America), OFC (Oceania), and UEFA (Europe), will then provide $1 million for each of their respective members.
As a result, Lebanon will receive the said amount from the Asian Football Confederation (AFC). FIFA said the payment will be made in two parts, the first being in July 2020 and the second in January 2021.
In addition to the $1M, Lebanon will also receive a lump-sum of $500,000 specifically allocated by FIFA to the support of the women’s football communities in all of its member nations.
The FIFA COVID-19 Relief Plan will also allow member associations to “apply for interest-free loans amounting to up to 35% of their audited annual revenues,” FIFA announced.
Furthermore, “in the interest of solidarity, a minimum loan of USD 500,000 will be available and a maximum of USD 5 million.”
The funds from FIFA are especially targeted at stakeholders in the world’s football community, particularly players and coaches, who, due to the prolonged halt in sports activities in the past few months, have been unable to earn their living.
The money will also support football clubs and leagues that have been under great financial distress for the same reason.
Lebanon currently has 24 different football clubs, based in various cities and areas, all of which compete within the leagues and divisions of the Lebanese football league system.
We have a dedicated coronavirus section where you can find the latest news/updates about the pandemic in Lebanon, inform yourself with WHO-verified resources, and track the number of cases in Lebanon in real-time. Click here.
Our team works tirelessly to ensure Lebanese people have a reliable alternative to the politically-backed media outlets with their heavily-funded and dangerous propaganda machines. We've been detained, faced nonstop cyber attacks, censorship, attempted kidnapping, physical intimidation, and frivolous lawsuits draining our resources. Financial support from our readers keeps us fighting on your behalf. If you are financially able, please consider supporting The961's work. Support The961. Make a contribution now.