Dubai: The International Cricket Council on Tuesday announced equal prize money for men and women in World Cups, starting with the women's T20 showpiece in the UAE next month.

The winners of the Women's T20 World Cup will be rewarded with USD 2.34 million, a 134 per cent increase on the USD 1 million awarded to Australian women when they clinched the title in South Africa in 2023, said the ICC in a statement.

India, who won the men's T20 World Cup earlier this year, received USD 2.45 million in cash prize.

"The ICC Women's T20 World Cup 2024 will be the first ICC event where women will receive the same prize money as their male counterparts, marking a significant milestone in the sport's history," said the ICC.

"The decision was taken at the ICC Annual Conference in July 2023, when the ICC Board took the step of reaching its prize money equity target seven years ahead of its schedule of 2030, making cricket the only major team sport to have equal prize money for its men's and women's World Cup events."

The Women's T20 World Cup begins in the UAE from October 3. PTI