Budapest will be hosting the 2017 Aquatics World Championships, Hungarian Prime Minister Viktor Orban told a news conference on Wednesday, after signing the agreement with FINA (International Swimming Federation) Executive Director Cornel Marculescu.

Budapest, originally scheduled to hold the 2021 championships, and still planning to hold the Junior World Swimming Championships in 2017, agreed to stand in for Guadalajara, Mexico, which opted out because of financial difficulties.

Hungary has never organized an international event of this size before, Orban said. This will require a tremendous effort, he said, and we all need to cooperate. But if everyone does his or her job, it should run well.

FINA issued a statement to thank Hungarian Prime Minister Viktor Orban and Hungarian Swimming Federation head Tamas Gyarfas for their "support and contribution" in organizing the global event.

Hungary's water polo team is world class, having won 15 Olympic and 10 world championships to date, swimmer Katinka Hosszu was voted FINA Swimmer of the Year in 2014, swimmer Daniel Gyurta is an Olympic gold medalist and swimmer Laszlo Cseh is a five-time Olympic medalist and 28-time European champion.

The World Aquatics Championships are held every two years. This year in Kazan, Russia, will be the host.

Events will include swimming, diving, open water swimming, synchronized swimming, and water polo.