The FIFA Council unanimously approved the Annual Report 2023 and the increase of investment in football development to 2.25 billion U.S. dollars, the world football governing body announced on Thursday.

FIFA confirmed that the budget for the 2023-2026 cycle is almost seven times as much as the investment in the development programs prior to 2016.

The Annual Report will be submitted to the 74th FIFA Congress in Bangkok, Thailand, on May 17, 2024 for final approval.

The Congress will hold a vote on the host(s) of the 2027 FIFA Women's World Cup in Bangkok after FIFA received a bid from Brazil, a joint bid from Belgium, Germany and the Netherlands, as well as a joint bid from Mexico and the United States.

The FIFA Council also supported the FIFA President Gianni Infantino's call to fight racism in football, FIFA said.