UEFA's Executive Committee has more than doubled its annual funding for the UEFA Foundation for Children to €6.8m, in order for the charity to help disadvantaged children across the globe.
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The UEFA Foundation for Children will receive an extra €3.8 million a year in funding from UEFA, following a decision made by the UEFA Executive Committee in September.
"We are in a privileged position and we must use this to help children living in challenging and difficult circumstances around the world," said UEFA President Aleksander Čeferin, who is also the UEFA Foundation chairman. "Football has the ability to inspire, unite and also teach children important life skills and values, such as teamwork and respect."
The UEFA Foundation for Children has now seen its annual support from UEFA more than double from €3m up to €6.8m. This will allow the Foundation to fund new projects across the globe, in addition to the numerous initiatives it is currently undertaking – from helping children with disabilities in Bolivia, to developing an afterschool football programme in Cambodia, which gives children the opportunity to play sport.
On Thursday, the UEFA Foundation for Children announced two new members would be joining its board of trustees – former world heavyweight boxing champion Wladimir Klitschko and Snežana Samardžić-Marković, director general of democracy at the Council of Europe.
Aside from the financial assistance it is offering, the Foundation is also providing valuable support for its projects through knowledge-sharing and hands-on advice in order to ensure the schemes are implemented in the best possible way.
Similarly to the Foundation, UEFA also has an annual budget of €5m to fund social responsibility projects. UEFA's partners feature under seven key themes: diversity; inclusion; environment; health; peace and reconciliation; solidarity; and fan dialogue.
Based on the principle of vice to virtue, these areas receive funding from the disciplinary fines imposed by the UEFA Control, Ethics and Disciplinary Body on clubs and national associations.
UEFA also has a number of other initiatives, which look to reinvest money back into helping to develop football. UEFA's HatTrick programme is funded by revenues from the UEFA European Championship, and has invested more than €1.8 billion back into the game since its introduction in the wake of UEFA EURO 2004.
The scheme has helped UEFA members construct stadiums, national training centres and new administrative headquarters, as well as funding grassroots projects such as building new pitches and training referees and coaches, fostering football at all levels.
This initiative works in four-year cycles, with the current edition supplying €610.5 million up until 2020, which means almost €153m per year to help UEFA's 55 national associations to nurture football at all levels.