Before any progress can be made, however, both tournaments still need to be approved by Fifa's 37-member ruling council.
Meanwhile, the Double Pack Initiative will give players an equivalent pack value in FUT 18 for every Standard or Premium pack they purchase in FIFA World Cup Ultimate Team.
It is part of an ambitious plan to reform global football which FIFA believes could be worth $25 billion in a 12-year cycle.
In a letter seen by Reuters, Infantino, who has already overseen the enlargement of the existing World Cup from 32 to 48 teams starting in 2026, suggested that the new tournament would take place every October and/or November of every odd year starting from 2021.
Earlier this month, Infantino confirmed that investors had shown interest in backing an expanded Club World Cup but did not comment on the amount involved, which has been reported as being up to US$25 billion (RM98 million) over a 12-year period.
Federation Internationale de Football Association has set aside $400 million that will be used as prize money pool to be awarded to the 32 teams in this year's World Cup.
The Associated Press is reporting that the windfall is outlined in a letter from Infantino to members of his ruling council.
The complex global format would start with regional qualifying groups with promotion and relegation, leading to intercontinental finals brackets in seven divisions.
On September 9 past year, Russian President Vladimir Putin and FIFA President Gianni Infantino kicked off the first phase of the tour, which saw the trophy visit 16 Russian cities before it moved on to its global tour in January. However, this is set to be abolished in favour of this new competition, which would tie in with the current major tournaments.
Nigeria, Tunisia, Senegal, Morocco, and Egypt will be flying the continent's flag in Russian Federation and have all been directed to contact the FIFA Financial Division for the assistance.
In a proposal from Infantino configured for Europe, FIFA forecasts that the five top countries could each be guaranteed to receive $37.5 million to $50 million to play six games in the initial phase of the Nations League.