On April 28, 2020, the International Boxing Association (AIBA) terminated an agreement with India, signed in 2017, which resulted in losing of hosting rights of 2021 men’s world boxing championship by the latter to Serbia.
- The reason behind termination is the inability of Boxing Federation of India (BFI) to pay the host fees of USD 4 million due on December 2, 2019.Now, India would have to pay a cancellation penalty of USD 500.
Key Points:
-It should be noted that this event had to happen for the first time in India which will now be held in Belgrade, Serbia.
-This is the second time for Serbia as a host after the tournament of 1978 in Yugoslavia.
Static Point: Serbia is in the Grey List of Financial Action Task Force (FATF countries), and Indian Banks do not send money to Serbia.
About BFI:
Headquarter– New Delhi
President– Ajay Singh
Secretary-General– Jay Kowli
About AIBA:
Headquarters– Lausanne, Switzerland
Interim President– Mohamed Moustahsane
About Serbia:
Capital– Belgrade
Currency– Serbian dinar
President– Aleksandar Vucic
