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The world football governing body FIFA has agreed to double its investment in women’s football over the course of the cycle spanning 2019 to 2022.

FIFA endorsed a reform package which will seek to rein in the commissions that agents can take out of player transfers after rising from its meeting in Singapore.

FIFA’s ruling Council meeting in Shanghai, China on Thursday saw world football’s governing body commit to invest $1bn (€897.5m) in the women’s game during the 2019-2022 cycle, as a result of an agreement on extra dedicated funding of $500m.

This amount will be taken from FIFA’s reserves as an addition to the $500m already approved by the Fifa Congress to be invested in women’s football as part of the budget for the current four-year cycle.

FIFA had in July reopened the bidding process for the 2023 Women’s World Cup after the Council approved the tournament’s expansion from 24 to 32 teams. All bids must be submitted by December 2019, with the hosts expected to be announced in May 2020.