1. Women's T20 World Cup
For the event in Australia next year the winners and runners up will now receive $1 million (Rs 7.16 crore) and $500,000 (Rs 3.5 crore) respectively; five times the amount on offer in 2018. An overall 320% increase in the prize pot for 2020 (compared to 2018) will see every single one of the 10 competing teams receive significantly more as part of ongoing efforts to drive improved standards throughout the game and not just rewarding the top end.
2. Women's 50-over World Cup
Correspondingly, the Women's 50-over World Cup too has seen a leap in prize money. In the previous edition in 2017, the winners had received USD 2 million (Rs 14.32 crore) and in the 2021 edition, the winners will take home a cool USD 3.5 million (Rs 25.07 crore).
3. U-19 Women's T20 World Cup
The ICC Board approved the establishment of an U19 Women's T20 World Cup with the first edition to be played in Bangladesh in 2021 and every two years after that.
4. The ICC's explanation
ICC Chief Executive Manu Sawhney said: "We have already stated our long-term commitment to reach parity across men's and women's cricket as part of a broader plan to grow and develop the women's game.
"We want to build a long-term sustainable foundation for women's cricket and that is about more than just prize money. It is about building a product that fans want to watch, that kids want to take up, that sponsors and broadcasters want to be part of. Creating a Women's U19 event also improves the pathway available to young cricketers and ensures they have the same opportunities as their male counterparts.
"This is a journey we started in earnest in 2017 and next year it's our ambition to fill the MCG on International Women's Day for the final of the ICC Women's T20 World Cup 2020 which would be a world record for a women's sporting event. This significant increase in prize money and the introduction of a Women's U19 event is part of a much larger effort to grow the women's game around the world."