The introduction of the AIBA Financial Support Program
The new Financial Support Program and the regulations were approved by the AIBA Board of Directors on their meeting which was held on 22 March and came into force on the 21st of April. The Financial Support Program shall be granted starting on the 1st of July 2021 and may be granted until 30 June in 2022.
A new grant program was launched by the International Boxing Association and all of the National Federations and the Confederations can apply to attend and get benefits and financial stability from the new FSP project.
Several development projects can be funded each year and reports and monitoring are important during the FSP program. The amount which is available for the Confederations is 500,000 USD per year while 20,000 USD for the affiliated National Federations.
The Financial Support Program plans to develop, support and strengthen boxing in all areas including grassroots programs, management, government and administration systems to be more independent, efficient and transparent in the future.
Those are eligible for the Grant Program which have a strategic plan or project approved by the AIBA FSP Office. The applicants have to demonstrate their financial programs for their boxing development and/or management activities. The applicants have to be in full compliance with all of their obligations under the Membership Policy.
The National Federations or Confederations must have their own constitution, statutes, and regulations which are compliant with the Constitution and the Membership Policy. The applicants have to employ a General Secretary or another official who is responsible for monitoring the implementation of the Financial Support Program.
A National Federation or a Confederation that plans to benefit from the Financial Support Program must submit a written application on the prescribed form. The purposes of the funding include the following areas: competitions, developments, “Need Based” projects, administration and communication.