Clubs at steps one to six of the National League system and clubs at tiers one to four of women's football are eligible for the funding, which can be accessed between now and the end of next season.
It is more than double the existing annual investment provided that the Premier League provides for stadium development for lower league clubs. The Premier League will also be providing specific support for clubs in their recovery from the impact of coronavirus pandemic.
Premier League chief executive Richard Masters said in a statement: "The strength of our football pyramid is unique in world football and the Premier League has a long-standing commitment to provide funding for clubs at all levels.
"With our increased financial support, we are helping clubs plan for the future and improve their long-term sustainability. This is particularly important as they recover from the financial impact of the Covid-19 pandemic.
"Football clubs are vital to local communities and we hope this funding will help them develop multi-use facilities to support football for the whole community."