Russia's Umar Kremlev was elected president of the International Boxing Association (AIBA) at a virtual congress on Saturday, amateur boxing's governing body said. 

The congress, held virtually due to the Covid-19 pandemic, had 155 national federations taking part and Kremlev beat his fellow candidates to win the election with 57.33% of the vote. 

The International Olympic Committee (IOC) last year suspended the AIBA over issues surrounding its finances and governance and Kremlev said he hopes to reinstate the body before the Paris Olympics in 2024. 

"Boxing is the sport of fighters. Our fight today is against financial debt, against incompetence, against corruption, against doping, against poor training, and against poor safety," Kremlev said. 

"Strengthening AIBA's governance structures, and ensuring our checks and balances work, will be the focus of my tenure as president." 

"Getting rid of AIBA's debt will be the first priority. As I promised... I will clear this debt in the first six months," Kremlev added. 

"My administration will aim to raise $50m within two years, all of which will be used to rebuild AIBA."