(ATR) FIFA has inked a memorandum of understanding with the Brazilian FA for the implementation of a $100 million World Cup legacy fund.
The deal was signed during the final 2014 FIFA World Cup Organizing Committee board meeting at FIFA headquarters in Zurich. FIFA secretary general Jérôme Valcke, Brazilian FA president José Maria Marin and CBF president-elect Marco Polo Del Nero were present along with Brazil’s sports minister Aldo Rebelo.
FIFA’s executive committee confirmed the size of the Brazil 2014 legacy fund in September. It will be used to promote development of football infrastructure, women’s and grassroots football, and healthcare and social programs for underprivileged communities with a special focus on the 15 states that did not host World Cup.
"The signing of this MoU confirms FIFA’s commitment towards the sustainable development of football in Brazil," Valcke said in a statement.
"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."
Marin said the legacy fund would help to further the ambition of the World Cup being 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," he said.
The first project to benefit from the fund, as unveiled by Valcke and Marin in July, – four football pitches 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 will be the responsibility of CBF based on specific plans submitted to and approved by FIFA," world football’s governing body said.
All funds provided by FIFA under the project will be subject to an annual central audit by KPMG.
Written by Nick Devlin
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