There will be two World Twenty20 tournaments in as many years after the International Cricket Council board scrapped the 2021 Champions Trophy.
Cricket's global governing body on Thursday announced there will be back-to-back World T20s rather than a Champions Trophy in India in three years' time.
It was also revealed that all T20 matches between members will be awarded international status - for men and women - and all member men's teams will be awarded T20 international status from January 1, 2019.
The World Test Championship will be also introduced, with finals to be staged in 2021 and 2023.
Stricter and heavier sanctions for ball tampering were also discussed as part of an ICC Code of Conduct review following the Australia fiasco at Newlands.
ICC chief executive David Richardson said: "This set of meetings has seen some significant decisions made for the long term good of the game. Signing off the FTP [Future Tours Programme] has been the result of unwavering commitment from all Members to get to this point and we look forward to the commencement of both the new ICC World Test Championship and ODI League in 2019 and 2020 respectively.
"We are particularly pleased with the unanimous agreement to award all T20 bilateral games international status and the move to create a global ranking system for T20Is. We are committed to growing the game and T20 is the vehicle through which we'll do this and removing restrictions and having all Members ranked is a positive step forward.
"We have already introduced a regional qualification pathway for the ICC World T20 in 2020 which is now underway and we will continue to evolve our qualification structures across all three formats to enable Members to play regular cricket and grow the game."
Richardson added: "The message from everyone gathered in Kolkata was loud and clear – we must act to create a culture of respect that protects the integrity of the sport. We all have a responsibility to the game and its fans and the strength of feeling around the board table today means we have a unique opportunity to improve the behaviour and culture across cricket.
"We are currently in the process of confirming the individuals to support us on this review and they will meet alongside the Cricket Committee in May and make recommendations to the board in June."