FIFA to give Brazil $100 million to develop the sport in the country
Sao Paulo, Jan 21 (IANS) Football's world governing body FIFA will provide 2014 World Cup hosts Brazil a $100 million bounty as the tournament's legacy fund to develop the sport in the country.
FIFA presented the sustainability report of the 2014 FIFA World Cup based on international standards and the details of the $100 million Football Legacy Project Tuesday, reports Xinhua.
FIFA established the 2014 FIFA World Cup Legacy Fund to sustain the long-term impact of the World Cup in the country.
"FIFA is committed to ensuring that the FIFA World Cup leaves a tangible legacy in the host country," Jerome Valcke, FIFA secretary general said in a press conference held here Tuesday.
According to the initial budget, an investment of $60 million has been approved for infrastructure projects with a special focus on the 15 states that didn't host Cup matches.
Another $15 million has been marked for youth football development, $15 million for women's football, $four million for medical prevention and public health awareness, $four million for social and community awareness projects and $two million for administrative and logistical costs.
FIFA will be in charge of funding, monitoring and control of the money, while the Brazilian Football Association (CBF) will carry out the project proposals and implementation tasks.
"We are convinced that the World Cup Legacy Fund will be an excellent platform to spread the benefits of the 2014 edition.
Several key principles will guide us: the project will be implemented in close collaboration with the CBF, we will share and communicate the results in a transparent manner and the use of the funds will be controlled and audited in accordance with the relevant FIFA development regulations," said Valcke.