Brazil has started reaping the dividend of hosting the 2014 World Cup as world soccer governing body, FIFA has splashed a whooping 100 million dollars (about N1.6bn) on the country.
The money which is tagged “FIFA World Cup legacy fund” is to be used to promote the development of football at the grassroots in Brazil as well as other corporate social responsibility projects for underprivileged communities in the country.FIFA and Brazilian soccer officials yesterday in Zurich, Switzerland signed a Memorandum of Understanding (MoU) for the implementation of the projects.
The MoU was signed by FIFA Secretary General Jérôme Valcke, Brazilian FA (CBF) President José Maria Marin and CBF President-Elect Marco Polo Del Nero in the presence of Brazil’s Sports Minister Aldo Rebelo. “The signing of the MoU confirms FIFA’s commitment towards the sustainable development of football in Brazil. We are convinced that the legacy fund will be an excellent platform to spread the benefits of the unforgettable 2014 FIFA World Cup. As in South Africa and Brazil, it is also our intention to use the upcoming FIFA World Cups to promote the sustainable development of football in the host countries,” said FIFA Secretary General Jérôme Valcke.
Brazil’s soccer federation president, Jose Maria Marin while commending FIFA stated: “Through this legacy fund, the 2014 FIFA World Cup will prove a catalyst for Brazil’s football development, particularly at youth and grassroots level. We are truly convinced that Brazilians will remember the 2014 FIFA World Cup for generations to come as a tournament that made a fundamental contribution to our football.” Interestingly, the first set of projects being executed with the fund – four football pitches (three artificial and one natural grass) located next to Belém’s Estádio Olímpico do Pará stadium – is about to be completed.
While funding, monitoring and control will be the responsibility of FIFA, project proposals and implementation is being handled by the Brazilian soccer federation (CBF). To ensure transparency, all funds provided by FIFA under the project will be subject to an annual central audit by KPMG.
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