FIFA President Gianni Infantino has spoken of the news this week, in a press conference by the world football governing body, and has praised the move. Infantino said: "It's a very important message for women's football."
The world football governing body also announced that it was to increase fund allocation for other activities related to the Women's World Cup, such as travel, training and compensation for player's club sides.
However the world players union Fifpro has said that although progressive, the move is insufficient for the changes that are required within the Women's game.
Fifpro released a statement on the news, writing: '"Fifpro notes the willingness of Fifa to increase prize money for the Women's World Cup and make structural improvements to support women's football. However, despite these changes football remains even further from the goal of equality for all World Cup players regardless of gender.'
When viewed alongside the budget for the prize funding for the men's World Cup, the women's competition pales in comparison. The prizde oney for the men's World Cup in Russia this summer was a staggering £312 million, of which champions France won £29.7 million.