"New Zealand Cricket has been allocated USD 1.8m, which represents USD 0.6m for each of the next three years from the ICC's Targeted Assistance and Performance Programme (TAPP) which is aimed at developing more competitive teams among Full Members and Associate/Affiliate Members," the ICC said in a statement.
The New Zealand Cricket initiative will focus on a programme of 'A' Team cricket and the development of coaching and sports science expertise.
New Zealand have been struggling of late internationally and their Cricket Board has been dogged by controversies after the recent sacking of Ross Taylor as captain.
Besides, the ICC Board considered the report of the Chief Executives' Committee working group and agreed that domestic Twenty20 leagues can add to the game and further deliberations should be aimed at "the growth and sustainability of international cricket" by "attaining co-existence between domestic T20 leagues and the international game".
The Committee includes Sundar Raman (BCCI), James Sutherland (Cricket Australia), David Collier (England Cricket Board) and David White (New Zealand Cricket).
ICC Chief Executive David Richardson said the key lay in attaining balance between domestic and international cricket.
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"Domestic Twenty20 leagues have provided so many opportunities for players and officials alike as well as entertaining large domestic crowds.
"A workable and balanced international playing calendar is key to the sustainability of the game. We also need to ensure that cricket is played in a corruption-free environment," he said. More