London, March 4 (IANS): There will be equal prize money on offer for both men's and women's The Hundred competitions when the inaugural tournament gets underway this summer. The prize fund of 600,000 pounds will be split equally between the competitions.

The Hundred is a 100-ball format that is set to launch in July with the men's and women's tournaments to run concurrently over a five-week period.

Beth Barrett-Wild, head of The Hundred women's competition said: "We're really proud of our movement towards making cricket a gender-balanced sport and whilst we're aware there is more to do in this space, this is an important step in the right direction."

"It's recognition for the women's players and the huge value they bring to The Hundred.

"The ECB is committed to transforming women's and girls' cricket, from inspiring young girls to pick up a bat for the first time, through to establishing the women's game as a professional career option. This announcement today represents one signal of intent towards that commitment."

England captain Heather Knight, who will lead London Spirit in The Hundred, said: "This is a great announcement for women's sport."

"Women's professional cricket is on an exciting journey and whilst, there is still a way to go to realise gender-parity, this move from The Hundred is a significant step in the right direction.

"We're all really excited about playing in the new competition and hopefully inspiring more young girls and boys to pick up a bat and ball."