Egypt is scheduled to host the World Championship from January 13 to 31.

A total of 32 teams are set to participate in the event, which will be held in a "bubble concept" to mitigate the risks of the coronavirus pandemic.

Moustafa said it "should be emphasised again that the financial situation of the IHF is healthy and financial revenue is the last reason for this competition to be held".

The IHF President stressed that the tournament was key for the whole sport, citing players, coaches, officials and national federations.

"The core of handball, the athletes, have been deprived of playing the sport they love for several months.

"It has been a physically and mentally challenging time as their aim must be to keep on training, to stay healthy.

"Professional players live on practicing handball.

"Therefore, it is of utmost importance to keep the sport going, not only in the national leagues but also on a global level.

"Not holding the World Championship would mean an enormous loss of visibility for them.

"The main income of coaches is handball as well – they should be on court with their team.

"Referees should be active but have not been officiating for almost a year. 

"National Federation activities came to a stop; Egypt 2021 provides an opportunity to relaunch the activities and refuel the energy.

"For the entire handball industry, it is of major importance to stage the 27th IHF Men’s World Championship.

"From TV to sponsors to different audiences, each stakeholder benefits from the organisation of the event in a different way."

The IHF last month announced a safety plan for the tournament.

This included providing information on COVID-19 to teams, maintaining social distancing and ensuring national governing bodies are responsible before travelling by taking tests and isolating, as well as the appointment of numerous medical officers for the tournament.

There will be mandatory testing every 72 hours to detect any outbreaks, hand sanitiser and masks will be readily available, transportation will be monitored closely and accommodation will be regularly disinfected.

Precautions will be in place in training halls with the arena split up into separate zones, there will be no handshakes allowed, there will be mandatory mask usage except for those on the field of play and there will be no mixed zones, only virtual press conferences.

Moustafa said that ahead of the tournament there will be an update of the medical precaution plan, as well as a second, competition-related plan.

The IHF President said the plans will be a safeguard and that organisers were willing to bear huge costs to implement them.

Hosts Egypt are set to be joined by 31 qualifiers for the event.

Chile and the US were confirmed as the final qualifiers this month, with both nations receiving byes into the tournament.

The IHF Council nominated the United States to represent the North America and the Caribbean Handball Confederation, after a continental qualifier was considered too difficult to arrange.

The IHF said it nominated the US due to the governing body’s desire to help develop handball and its audience in the country, as well as increased activity from US broadcasters.

With the US hosting the Los Angeles 2028 Olympic Games, the IHF believes having strong host teams should be an overall target.

The IHF also noted the US were the best-ranked team at the last official competition, the Lima 2019 Pan American Games, compared to other nations registered for the planned qualifier.

Chile were awarded the final South American spot following the final qualification event not going ahead.

The Chileans were proposed due to being best-ranked country at the last Men’s South and Central American Championship who had yet to qualify.