All-rounder Ganga Devi Waikhom will lead the 11 players as skipper.
The Manipur team was previously coached by renowned batsman Shiv Sunder Das.
MNCA honorary secretary Peter Kshetrimayum said tenders for ground development and construction of toilet, change rooms are in the process.
The six players are Khwairakpam Priyangka Devi, Sapam Yaiphabi Devi, Takhelmayum Sanaloo Devi, Ngasepam Ranjita Chanu, Mangalleibi Salam and Sheikh Neha.
The MNCA said the financial assistance will cover its office bearers, members, representatives, coaches, support staff, umpires, scorers and video analysts.
The major thrust of the MoU is to lease out the Ngairangbam Awang Mamang Leikai ground to the MCA for a period of 50 years.
The programme is open for all, including existing umpires and scorers, retired cricketers as well for fresh candidates.
MCA to go for regular tournament once the government and BCCI gives it go ahead signal
The MCA Foundation Day will be a low key affairs due to the Covid-19 pandemic, the organisers said.