Under the terms of the deal, the BHA will receive $300,000 (£212,000/€263,000) over a two year period which will be used on a number of pre-agreed projects.

Two-thirds of the funding will come from the IHF while the rest will come from the International Olympic Committee (IOC).

The news is a big boost to the BHA who had their Government funding withdrawn following the London 2012 Olympics, which saw Great Britain - not a traditional handball nation - reform squads especially to take up the home nation berths.

Just over half of the money will go to grassroots projects to be administered by the England and Scottish Handball Associations, while the rest will support age-group national teams and elite-coach-development programmes.

"This is welcome news for British Handball, which remains without Government funding since the 2012 Olympics, and we are very grateful to the IHF and IOC," said BHA chairman Paul Bray.

"However we must keep our feet on the ground, as the national team and coach-development funds are relatively modest and short-term, and these programmes will remain largely self-funded."

The boys' under-18 team and the girls' under-16 programme are set to benefit from the funding boost, with the view of entering the European Championships Division Two.

These sides will be the first to benefit from the new two-tier European Championship format.

Funds will cover Championship participation fees and training camps, allowing the team to better prepare for the events.

“The under-18 boys programme is well advanced, with several training sessions already run," added Bray.

“Securing the funds was the key first task for the BHA as we seek to reshape British Handball and form a new Board.

"A Performance Group is being established to help plan and oversee the national team and elite coach development programmes.

“Ultimately our goal is to re-establish the GB teams at key age groups, including seniors, but this will not be easy with no long-term Government funding.

“So much good work is going on within handball in the UK, and we need to persuade UK Sport to change its mind set for the next Olympic cycle.”

The British men's and women's teams both failed to win a game at the London Olympics.

The men returned from a two-year hiatus to compete for the first time at the IHF Emerging Nations Men’s Championship in Kosovo in June.