FIFA wants CAF to source $1b from financial market

The Federation of International Football Association (FIFA), wants the Confederation of African Football (CAF) to source for one billion dollars in the form of  loan, from the financial market to develop the game on the continent.

According to Mr. Gianni Infatino – President of FIFA, the move would enable CAF to invest heavily in infrastructural development of each country on the continent, adding this would be used to generate money to repay the loan.

Mr. Infantino said this when he met over 300 journalists at the 83rd International Sports Press Association (AIPS) Congress in Budapest, Hungary on Monday.

He added that this would enable each country in Africa, to have more infrastructure to generate more revenue to pay back the loan.

According to Mr. Infantino, should CAF accept these proposal FIFA, they would proceed to support them on how to use the loan to generate income for the repayment as well the development of the game.

“Without infrastructure, there can never be good football and good competition.

“It would also enable us create new competitions to generate enough money for the game,” he added.

He said “I hope Africa accepts this proposal… In the last years I have been traveling to 41 African countries.

“In some stadiums the night before a match there were sheep. Infrastructure needs to be revised,” he noted.Source:

GNA