World Cup funds can now flow
THE World Cup legacy fund is now up and running after the trustees met for the first time in Johannesburg yesterday and set in motion the disbursement of R450million earmarked for the development of South African football.
"We are very pleased that the trust is now fully operational. It is the first time in the history of the World Cup that such a trust has been established and it required a complex administrative process, which is why it took us some time to set it up," said Fifa general secretary Jerome Valcke in a statement released by world football's governing body after the meeting.
"I'm glad that we are now entering a phase that will focus on implementing the vision to ensure that the legacy can benefit the host country."
The fund comes from the profits of a successful tournament and Fifa says it is designed to support a wide range of public initiatives in the areas of football development, education, health and humanitarian activity.
Applicants with worthy projects can start applying from June 1 and the first successful initiatives, once they have passed an evaluation panel, will be approved by the end of the year.
After that, money will be awarded to worthy causes on an annual basis.
"From today, we can look forward to the fruits of 2010 being enjoyed at grassroots level and within communities across South Africa," added Safa president Kirsten Nematandani.
Danny Jordaan will serve as the chairman of the board.