Majority funded by the profits from the men's European Championship, each national association will receive 150,000 Euros per year for women's football projects, which is an increase of 50% from the previous 100,000 euros figure.
Therefore, across the continent the total figure of spending on Women's football has an annual increase of 2.75 million Euros.
UEFA president Aleksander Ceferin spoke to the media after the announcement, saying: ""The potential for women's football is limitless and it is with this in mind UEFA has taken the step to increase the funding available to the national associations to help improve the women's game across the continent. He continued; "Increasing the participation and the role of women in football has been one of my main objectives, both before and after I became UEFA president."
The investment comes as a further boost for Women's football, which has gone from strength to strength in recent years; amassing record numbers of spectators for the 2017 European Championships in Sweden, alongside the boom in television ratings and more accessible viewing for Women's matches across television channels in many countries.
The announcement comes a week after FIFA launched its own 'Women's Football Strategy', with the ultimate aim of doubling participation in Women's football to 60 million by 2026.