Dubai: The ICC Board yesterday decided to double the prize money of the top-ranked Test team to USD 1 million from its existing USD 500,000 from April 1, next year and also increase investment in women's cricket by five-fold.

According to a media release issued by ICC, "The Board approved an increased allocation of USD 65 million as the prize money for the top ranked Test sides and for men's and women's ICC Events during the period 2016-2023. This represents a 41 per cent increase in the total prize money paid to players compared to the previous eight-year cycle."