Seven full-member Boards to receive USD 10 million each

The ICC has decided to pay seven full-member Boards USD 10 million over the next eight years as part of Test Cricket Fund announced last year when Big Three (BCCI, ECB and CA) had gained control over revamped ICC.
According to ESPNcricinfo, the remaining full-member boards will receive USD 1.25 million each annually, beginning January 2016.
The International Cricket Council (ICC) plans to make its first Test Cricket Fund payment of USD 600,000 in early January, and then disburse another USD 650,000 to the 'small seven' member boards in July. Payments are expected to follow this biannual pattern until 2023.

The ICC had originally announced that the Test Cricket Fund was aimed to "encourage and support Test cricket" outside the Big Three nations, BCCI, ECB and CA.
Since the Boards have already entered bilateral touring agreements until 2023, there appears to be limited scope to enhance their Test schedules using this payments.
The report says, "it seems that the money would be used to underwrite loss-making tours. For example, Sri Lanka Cricket (SLC) loses money on Test tours featuring all countries except the Big Three and Pakistan."

The Test Cricket Fund would help them recover losses from home tours such as the recent visit by the West Indies, which is estimated to have cost SLC about USD 648,000.

The Test Cricket Fund had been among the chief incentives offered to the smaller boards, as the BCCI, ECB and CA sought support for their control over the ICC in January and February last year.
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The ICC said that its management will also now work with the Nepalese cricket community, and other stakeholders, in order to assist with the development of a sustainable governance and administration structure for cricket in Nepal.
Regarding election of ICC Chairman, the Board said it will be held through a secret ballot in late May after all constitutional amendments have been approved by the Full Council in the coming weeks.

"The election process will be overseen by the ICC's independent Audit Committee Chairman and all present and past ICC directors will be eligible to contest the election."
Talking about adding context and value to bilateral cricket schedules and structures, the ICC Board said there was a consensus amongst the group that a model which adds greater context to international cricket needed to be created as a matter of priority.
The ICC Board also decided "to approve a short-term ODI fund of USD 500K each for Afghanistan Cricket Board and Cricket Ireland to allow them the opportunity to schedule more bilateral series, which, in turn, will support their bid to improve their team rankings and claims to secure direct qualification for the ICC Cricket World Cup 2019."

About Day/night Tests, ICC said that the "Members confirmed their support for day/night Tests and it was noted that a number of day/night Tests were being considered for the forthcoming year."
Regarding expansion of cricket, the ICC received an update on cricket in China and also received a report on the development of cricket in the United States of America (USA) and expressed its satisfaction with the progress.