The new funding is part of an additional £100m investment to which the Premier League has committed over the next four years.
It forms part of the commitments made to the government following the exclusion order relating to the three-year renewal of the Premier League’s UK live and non-live broadcast deal with Sky Sports, BT Sport, Amazon Prime Video and BBC Sport.
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Further announcements on financial support for other parts of the men’s and women’s pyramid will be made over the course of the season.
Premier League chief executive Richard Masters said: “We are delighted to be able to provide additional support to EFL and National League clubs at a time when the whole of football is looking to return to normality.
“This builds on our long-standing support for football at all levels and is part of additional funding we will provide to the wider pyramid and communities following the Government’s approval to renew our UK broadcast arrangements.
“We look forward to working with our football partners to provide more important financial assistance in areas where it is truly needed, which will continue to make a difference to those clubs impacted significantly by Covid-19.”
The National League’s £5m funding is over the next four seasons with £2m this season and an additional £1m for each of the following three seasons.
The National League board has decided the initial £2m should be divided equally at steps one and two.
National League chairman Jack Pearce added: “The National League has been in regular discussion with the Premier League and other football organisations to discuss funding throughout the pyramid and this latest announcement is brilliant news for National League clubs.
“We welcome the additional funding which comes after the Premier League provided funds during the pandemic that were crucial to the livelihood of clubs.
“The impact of Covid-19 was particularly severe at this level of the game and this new investment is a timely boost that will aid clubs in their recovery and enable them to plan for the future.”
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