Vanessa Potter, the fund's director of policy and external relations, told Children Now the programme would take its lead from MP Frank Dobson's review of children's play published in January 2004.
"What the board has done is approve in principle putting 155m into children's play. We will now work to bring the Dobson findings up to date," she said.
Programmes for Scotland, Wales and Northern Ireland will be decided separately at a later date. Details of the way England's funding will be distributed have yet to be decided.
But Potter indicated it was likely to follow Dobson's recommendation that 80 per cent should go towards developing local play provision and 20 per cent to innovation and regional support infrastructures.
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