FIFA Approves $2.25 Billion Investments for Football Development

FIFA has given the green light to investments totaling $2.25 billion for football development between 2023 and 2026. 

This decision, made under the "FIFA Forward" program, marks a significant increase compared to previous investments before 2016.

The FIFA Council, in an official statement released on Thursday evening, announced that the annual report, which received unanimous approval from the Governance and Audit Committee and the FIFA Finance Committee, will be distributed to all 211 member associations.

It will then be presented at the 74th FIFA Congress in Bangkok, scheduled for May 17, 2024, for final approval.

Gianni Infantino, FIFA's President, expressed confidence in the organization's financial governance approach during the remote council meeting.

He stated that FIFA is surpassing its budget targets for the 2023-2026 cycle, amounting to $11 billion. Infantino emphasized that this increased budget will enable FIFA to provide more tailored services to the 211 national associations, assisting them in implementing development, education, and football advancement projects.

During the meeting, the FIFA Council also supported Infantino's call for stricter measures to combat racism in football, aiming to enhance the commitment of all relevant parties. This initiative will be included on the agenda of the upcoming congress.

Infantino highlighted that the 74th FIFA Congress will be a significant milestone in FIFA's ongoing efforts to combat racism, with the implementation of new and stricter measures worldwide in collaboration with national and continental associations.

Additionally, the FIFA Council approved the voting procedures for selecting the host country (or countries) for the 2026 FIFA Women's World Cup. The results of each vote and the total votes will be publicly announced during the next congress meeting.

Three bids have been submitted to host the Women's World Cup: Brazil, a joint bid by Belgium, Germany, and the Netherlands, and a joint bid by Mexico and the United States.

Furthermore, the FIFA Council endorsed the decision to host the Under-17 World Cup annually instead of once every two years.

This change follows an increase in the number of participating teams to 48, with Qatar being awarded the organization of the next five editions starting from 2025. Additionally, the Women's Under-17 World Cup, featuring expanded participation to 24 teams, will be held annually from 2025, with Morocco hosting until 2029.