Carini lost her welterweight round-of-16 bout against Algeria’s Imane Khelif last Thursday, in what has become this Olympics’ biggest controversy.

The IBA manages elite boxing but does regulate the sport at the Olympics.

In a statement, the association explained that IBA President Umar Kremelev has decided that Carini will receive the prize as if she had become Olympic champion.

Carini pulled out during the first round after the Algerian boxer, who is at the centre of a gender row, pummelled her with a barrage of punches.

The prize consists of $100,000, of which $50,000 will go to Carini, $25,000 to her coach and $25,000 to the Italian boxing federation (FPI), which recently left the IBA to join World Boxing.

World Boxing was created as a governing body in response to the breakdown in the relationship between the IBA and the International Olympic Committee (IOC).

“I couldn’t look at her tears,” Kremlev was quoted as saying in a statement published by the IBA on Friday.

“I am not indifferent to such situations, and I can assure that we will protect each boxer.

“I do not understand why they kill women’s boxing.

“Only eligible athletes should compete in the ring for the sake of safety,” he said.

The IBA, which was the previous organiser of Olympic boxing, has been a vocal critic of the IOC’s decision to allow Khelif and Taiwan’s Lin Yu-ting to compete.

The two athletes were disqualified from last year’s World Championships over failed gender eligibility tests. 

However, later on Thursday the FPI said it would not accept money from the IBA.

The FPI’s statement did not mention Carini, however federation sources claimed the boxer would also not accept the money.

ANSA