A total of $200,000 (£144,000/€169,000) has been allocated by an Asian Boxing Confederation (ASBC) commission to the first phase of a new development programme.
The ASBC Fund and Development Commission confirmed the amount during its first meeting, held in Uzbekistan's capital Tashkent.
According to the ASBC, the money will be used to support boxers across the continent amid the coronavirus pandemic.
It will be spent on equipment and educational programmes, among other initiatives.
ASBC executive director Ali Salameh said allocating the funding directly to boxers, cooperating with the International Boxing Association (AIBA) and supporting educational courses are the key factors in developing the sport on the continent.
The Chairman of the new ASBC Fund & Development Commission Mr. Saken Polatov thinks strategically about the support of the Asian boxers and National Federations 🇺🇿🇺🇿🇺🇿 @Uzbekistan pic.twitter.com/KFcBdF2nGs— ASIAN BOXING CONFEDERATION (@BoxingAsian) April 6, 2021
Tajikistan, Yemen, Afghanistan, Laos, Cambodia, Nepal, Bhutan and Bangladesh have all requested funding and support, the ASBC said.
AIBA President Umar Kremlev was among the guests at the meeting in Tashkent.
The ASBC said Kremlev, elected AIBA President in December, was planning on visiting the Asian Boxing Championships in New Delhi.
Kremlev said organisers should maximise the advertising of the Asian Championships, scheduled for May 21 to 31, and should hold finals in the evening to generate money from media rights and broadcasters.