The 65-year-old world boxing boss (pictured left) from Taiwan was presented with the prestigious award at a special ceremony held at the Presidential Palace in Ulaanbaatar, the capital of Mongolia.

The President of Mongolia (pictured right) expressed his profound appreciation and his full support of all AIBA initiatives taken under the leadership of Wu to develop the sport of boxing worldwide.

This honour is very rare and only given to people who have dedicated their life and efforts to a specific field.

"It is a great honour for me but also for AIBA," said Wu, who has been AIBA President since 2006 and a member of the International Olympic Committee (IOC) since 1988.

"Having been involved for over 25 years in the Olympic Movement and the sport of boxing, this award gives me great motivation to carry on with my contribution to the people, to offer them a better life through sport and especially boxing.

"The worldwide AIBA family greatly value His Excellency Elbegdorj Tsakhia's interest and support for our sport.

"I have been very impressed by the love and passion shown for boxing by the Mongolian people.

"I am convinced that Mongolia will be one of the leading countries of the Olympic Movement and the sport of boxing in particular."

Wu, an English-educated billionaire, is also a world-renowned architecture expert with one of his biggest achievements coming when he worked on the senior team that helped create and build Milton Keynes in the United Kingdom.

Since he was first elected as an IOC member in 1988 following a recommendation from former IOC President Juan Antonio Samaranch, Wu has been involved in the Coordination Commissions for the Nagano 1998 Winter Games and the Beijing 2008 Summer Games, while he is currently on the Coordination Commission for the Rio 2016 Summer Olympics and Paralympics.

After becoming President of AIBA in 2006, Wu has been widely praised for reforming the sport from its previously corrupt ways and also for spearheading the popular campaign that saw women's boxing confirmed as an Olympic sport in 2009 at the IOC Session in Copenhagen.

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