Friday, March 31, 2023

Bern borrowed 1.8 billion from Fifa

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City is now considering loans

Bern borrowed 1.8 billion from Fifa

In the last six years, the city of Bern has borrowed CHF 1.8 billion from Fifa. The federal city is not alone as the debtor of the football association.


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Sermin Fakipolitical chief

The city of Bern has borrowed money from the international football association Fifa several times at short notice. Over a period of six years, there were 21 short-term financings amounting to around one billion francs, as the city announced on Friday. In addition, there are 14 short-term debt financings for the city-owned institutions and special accounts totaling CHF 0.8 billion. Altogether, Bern was in debt to Fifa with 1.8 billion Swiss francs!

After all: Due to the negative interest rates, Bern made a profit of 3.1 million francs with Fifa financing. After criticism of the origin, the city now wants to reconsider these loans. Because Fifa has repeatedly fallen into disrepute due to corruption affairs and the toleration of human rights violations like in Qatar – profiting from such money is not right for many.

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