The International Booker Prize has been renamed the Bukhman International Booker Prize after Bukhman Philanthropies committed funding for the next 10 years.
The winner's prize money has been doubled from £50,000 to £100,000, to be shared equally between the author and translator.
The prize recognises the best translated fiction published in English in the United Kingdom (UK) or Ireland.
Bukhman Philanthropies, founded by Daria Bukhman and Dmitri Bukhman, will support the prize until 2036.
The prize began in 2005 as the Man Booker International Prize, became an annual award in 2016, and was renamed the International Booker Prize in 2019.