FIFA has announced a major new partnership with the Saudi Fund for Development (SFD), securing up to $1bn (£762mln) in financing to support the construction and renovation of football facilities worldwide.
Under a memorandum of understanding signed on Monday, the SFD will offer discounted loans for stadiums and multi-sport venues, with developing nations receiving priority access. Fifa said the initiative aims to help national governments design, finance and build modern infrastructure capable of hosting international competitions.
FIFA president Gianni Infantino said the funding would provide crucial support for member associations struggling to meet infrastructure requirements. «This...