Women’s teams will be awarded the same prize money as their male counterparts at International Cricket Council events from now on.

England walked away with a pot of $1.6m (£1.2m) after winning the men’s Twenty20 World Cup last year while Australia claimed $1m (£763,000) by going all the way in the women’s equivalent in February.

But at its annual conference in Durban, South Africa, the ICC announced men’s and women’s teams will be rewarded equally for their equivalent finishing positions at its tournaments, including World Cups.

There will also be an even split for winning a match at those events with the ICC stating it has “fulfilled its commitment to reaching prize money equity by 2030 well ahead of schedule”.

The ICC chair, Greg Barclay, said: “This is a significant moment in the history of our sport, and I am delighted that men’s and women’s cricketers competing at ICC global events will now be rewarded equally.

“Since 2017 we have increased prize money at women’s events every year with a clear focus on reaching equal prize money and, from here on in, winning the women’s Cricket World Cup will carry the same prize money as winning the men’s Cricket World Cup and the same for T20 World Cups and under-19s too.

“Cricket is genuinely a sport for all and this decision from the ICC Board reinforces that and enables us to celebrate and value every single player’s contribution to the game equally.”

The next ICC tournament is the men’s 50-over World Cup in India in October and November, while there are both men’s and women’s T20 World Cups next year.

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As part of a damning report into the game in England and Wales last month, the Independent Commission for Equity in Cricket recommended a “fundamental overhaul” of female players’ pay structure. It has been suggested to the England and Wales Cricket Board that there should be equal pay on average at domestic level by 2029 and at international level by 2030.