The positive social and economic impact of FIFA’s flagship event was the focus ahead of the last 2014 FIFA World Cup™ Local Organising Committee board meeting on Monday, with the signing of a Memorandum of Understanding (MoU) for the implementation of the 2014 FIFA World Cup™ Legacy Fund. The MoU was signed at the Home of FIFA by FIFA Secretary General Jérôme Valcke, Brazilian FA (CBF) President José Maria Marin and CBF President-Elect Marco Polo Del Nero in the presence of Brazil’s Sports Minister Aldo Rebelo.

As confirmed by the FIFA Executive Committee on 26 September 2014, the legacy fund will total USD 100 million, which will be used to promote development in areas such as infrastructure, women’s and grassroots football, healthcare and social programmes for underprivileged communities with a special focus on the 15 states that were not home to Brazil 2014's Host Cities.

“The signing of this MoU confirms FIFA’s commitment towards the sustainable development of football in Brazil," said FIFA Secretary General Jérôme Valcke. "We are convinced that the legacy fund will be an excellent platform to spread the benefits of the unforgettable 2014 FIFA World Cup. As in South Africa and Brazil, it is also our intention to use the upcoming FIFA World Cups to promote the sustainable development of football in the host countries."

CBF President José Maria Marin commented: “Through this legacy fund, the 2014 FIFA World Cup will prove a catalyst for Brazil’s football development, particularly at youth and grassroots level. We are truly convinced that Brazilians will remember the 2014 FIFA World Cup for generations to come as a tournament that made a fundamental contribution to our football."

Brazil’s Sports Minister Aldo Rebelo added: "Today is an important day for Brazilian sport, as this legacy fund confirms the benefits the World Cup has brought and will bring to Brazil."

The first project of the 2014 FIFA World Cup™ Legacy Fund as unveiled by Valcke and Marin in July 2014 – four football pitches (three artificial and one natural grass) located next to Belem’s Estadio Olímpico do Para stadium – is about to be completed.

While funding, monitoring and control will be the responsibility of FIFA, project proposals and implementation will be the responsibility of CBF based on specific plans submitted to and approved by FIFA. As per the relevant FIFA regulations, all funds provided by FIFA under the project will be subject to an annual central audit by KPMG.

Updated data about the project implementation will be made available through the websites of FIFA and the CBF.