The prize pool of the Women's World Cup has grown by 300%, but is still smaller than the men's.

The total prize pool for this summer's FIFA Women's World Cup will rise to more than $150 million - a figure still significantly less than the $440 million men's for the 2022 World Cup in Qatar.

"Why it matters: The increased pool announced by FIFA on Thursday is more than triple that of the 2019 women's tournament and 10 times that of the 2015 tournament," the publication said.

FIFA President Gianni Infantino said the organization has an "ambition" to ensure full parity between men's and women's prize money at the 2026 World Cup.

"Women deserve much, much more than this, and we are here to fight for them and with them," Infantino said, calling on broadcasters to pay more for the rights to broadcast the upcoming FIFA Women's World Cup.

The equalization of pay for women's and men's soccer teams is supported by the United States, Canada, France, and Spain, among others.

In 2022, the U.S. Women's National Soccer Team settled a gender pay discrimination lawsuit with the U.S. Soccer Federation for $24 million. And last May, the federation announced that it would ensure equal pay for all competitions through collective bargaining agreements with both teams. According to the agreement, FIFA prize money from the men's and women's World Cup matches will be combined and then divided equally between the members of both teams.

Earlier, the Fédération Internationale de Football Association (FIFA) officially approved the format of the 2026 FIFA World Cup to be held in the United States, Mexico and Canada.

FIFA has decided on the number of clubs that will represent each continent at the 2025 FIFA Club World Cup, which will be attended by 32 teams.

FIFA has also chosen the current world champion Lionel Messi as the best player in 2022.