FIFA: There would be strict controls on the use of $1.5M COVID-19 Emergency Fund allocated to Member Associations

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The world football governing body FIFA has indicated that there would be strict controls (audit requirements as well as clear loan repayment conditions) on the use of funds disbursed to member associations from the COVID-19 Emergency Fund and loans that would be accessed by members to ensure effective oversight.

A FIFA COVID-19 Relief Plan steering committee will also be established to supervise the administration of the scheme.

Olli Rehn, the Deputy Chairman of the FIFA Governance Committee, has been appointed to lead this committee. He is also the Governor of the Bank of Finland, a member of the Governing Council of the European Central Bank and a former Vice-President of the European Commission.

As a next step, the principles of the plan will be consolidated in a set of regulations to be put forward to the Bureau of the FIFA Council.

By: Kwaku Oduro

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