Lausanne: AIBA on Wednesday announced that ASBC Asian Boxing Championships medalists will be given prize money from AIBA for the first time in the history of the tournament. The prize money is 400,000 USD and will be distributed among gold, silver and bronze medalists in each weight category.

Both Men and Women pugilists who finish in first place, will be awarded with 10,000 USD. While for the second, the prize money is 5,000 USD and for boxers winning bronze medals, it is 2,500 USD each.

The ASBC Asian Men’s & Women’s Elite Boxing Championships in Dubai, United Arab Emirates will commence from May 24 with the finals scheduled on May 31.

‘We are following the initially planned strategy. Boxers should receive a reward for their hard work. Not only will money motivate athletes, but also ensure the financial stability of them and their families. All we do is for the sake of our boxers, they are our most important persons. I wish all the participants of the Asian Championships to show their best in the ring and stay healthy,’ AIBA President Mr. Umar Kremlev said.

Afghanistan, Bahrain, India, Indonesia, Iran, Iraq, Jordan, Kazakhstan, South Korea, Kuwait, Kyrgyzstan, Laos, Macau, Malaysia, Mongolia, Nepal, Pakistan, Philippines, Qatar, Sri Lanka, Syria, Tajikistan, Thailand, Turkmenistan, United Arab Emirates, Uzbekistan and Yemen are the countries who have registered to attend the event.

Eight out of the ten defending Asian champions in men's category like Nodirjon Mirzakhmedov (49kg), Amit Panghal (52kg), Mirazizbek Mirzakhalilov (56kg), Erdenebat Tsendbaatar (60kg), Bakhodur Usmonov (64kg), Bobo-Usmon Baturov (69kg), Kim Hyeong Kyu (91kg) and Bakhodir Jalolov (+91kg) are planning to contest in the event to defend their titles.

In the Women's event, Philippines’ Josie Gabuco (48kg) and India’s Pooja Rani (75kg) will have an opportunity to increase the tally of their gold medals.