The bulk of the money will come from Sport England's national lottery fund but about £4m ($5.8m/EUR6.3m) will be provided by the department of culture, media and sport, who last October decided to scrap plans to build a new athletics stadium at Picketts Lock.
"It will always remain a disappointment we weren't able to hold the world championships," said UK Athletics' chief executive David Moorcroft. "But this level of investment and opportunity wouldn't have existed if it hadn't been for these circumstances.
"It has turned what was a very disappointing period into something of a long-term benefit for the sport."
