Caption- Australia's Prime Minister Malcolm Turnbull - REUTERS/Edgar Su

The Australian government will offer financial backing for the country’s bid to host the 2023 women’s soccer World Cup, Prime Minister Malcolm Turnbull said on Tuesday.

The government will back the bid to the tune of A$1 million (597,140 pounds) initially with another A$4 million available if it looks like being successful.

The Australian women’s national team, dubbed ‘the Matildas’, are currently ranked eighth and reached the World Cup quarter-finals for the third successive tournament in Canada in 2015.

Colombia, Japan, New Zealand and Thailand have all expressed interest in hosting the 2023 tournament but Australia’s experience of successfully staging major sporting events and the government backing would put them among the favourites.

The 2000 Sydney Olympics, 2003 Rugby World Cup, soccer’s 2015 Asian Cup, as well as the co-hosted 2015 cricket World Cup, all drew high praise for organisers.

“Our advice is that FIFA has reformed and is committed to an open and transparent bidding process.”

The next women’s World Cup takes place in France in 2019.