The Grand Slam Development Fund (GSDF) will provide total funding of $650,000 (£500,000/€570,000) which will contribute towards competition-related costs and help recipients develop as professional tennis players and compete in Grand Slam tournaments. 

The GSDF Committee chose recipients depending on age, ranking and regional representation, with all the chosen players deemed to show "exceptional" potential.

Serbia's Miomir Kecmanovic and Poland's Kamil Majchrzak, who competed at the 2019 Australian Open, will receive grants of $25,000 ($33,000/€29,000).

In addition, 10 other male players will receive $25,000.

They are Kazakhstan's Alexander Bublik, South Korea's Chung Yunseong and Duckhee Lee, Austria's Sebastian Ofner and Jurij Rodionov, Argentina's Camilo Ugo Carabelli, Hungary's Mate Valkusz and Zsombor Piros, China's Wu Yibing and Mikael Ymer of Sweden. 

Eleven female players have been named as GSDF recipients.

They are Poland's Magdalena Frech, Greece's Valentini Grammatikopoulou, Serbia's Ivana Jorovic, Slovenia's Kaja Juvan, China's Fangzhou Liu and Xu Shilin, Romania's Andreea Amalia Rosca, Kazakhstan's Elena Rybakina, Bulgaria's Viktoriya Tomova, India's Karman Kaur Thandi and Katarina Zavatska of Ukraine. 

Two male players and four female players will also receive a grant of $12,500 (£10,800/€11,000).

Argentina's Victoria Bosi, Dominican Republic's Roberto Cid Subervi, Tunisia's Moez Echargui, Egypt's Sandra Samir, Papua New Guinea's Abigail Tere-Apisah and Mexico's Renata Zarazua are the highest ranked players in their respective regions and will receive the lesser grant to ensure that at least one player from each region receives funds.

New recipients who continue to meet the criteria will be eligible for an additional grant of up to $25,000 in 2020.

The Grand Slams are the Australian Open, French Open, Wimbledon and the US Open. 

"The Grand Slam tournaments are very pleased to have the opportunity to invest in the development of these talented young players," said Bill Babcock, director of the Grand Slam Board. 

"Many of today's top professionals received support from the GSDF early in their careers and the International Player Grand Slam grants will help players to reach their potential and become stars of the future."

International Tennis Federation President David Haggerty added: "Investing in development is crucial for the continued growth of our sport.

"I am thrilled that this programme gives the grant recipients the chance to improve their game so that they can compete with the best in the world. 

"I have no doubt that for many of these players, this is a first step in a long and successful career."

The GSDF was originally established in 1986 and has become an effective way to develop competitive tennis worldwide, contributing more than $50 million (£38 million/€44 million) to tennis development since its inception. 

Former Australian Open and French Open winner Li Na of China, three-time French Open champion Gustavo Kuerten of Brazil and current world number one Simona Halep of Romania, the reigning French Open champion, have all been previously supported by the fund.