FIFA has officially withdrawn its proposed FIFA Forward Enterprise project, shelving plans for private investment after concluding that the initiative had become too divisive among its stakeholders.

In a statement issued, FIFA President Gianni Infantino said the project had originally been designed to strengthen FIFA Member Associations and support the global growth of football, particularly in countries where financial assistance is needed the most.

Infantino said the proposal was always intended to move forward only with the backing of a majority of FIFA's Member Associations and following extensive consultations with member associations, the FIFA Council, the continental confederations and other stakeholders.

However, after reviewing the feedback received during the consultation process, FIFA concluded that the project had created divisions that were no longer in the best interests of achieving its original objectives.

"Having listened carefully to all the views, it has become clear that the project has created divisions of a nature that, regardless of the level of support, are no longer in the interest of the objective set out in the first place," Infantino said.

He reiterated that FIFA's goal has always been to unite the football community and promote the development of the game worldwide.

As a result, FIFA confirmed that the proposal will not proceed.

Infantino added that he intends to bring all interested parties back together in the coming days and weeks to continue working towards the shared objective of growing football around the world, particularly in nations that require the greatest support.