Amazon has introduced a $6m (£3.85m) fund under the Kindle Direct Publishing Select scheme for authors who make their e-books exclusive to Amazon Kindle for at least 90 days.

The etailer expects to pay authors from the pot when their books are borrowed under the Kindle Lending Library, which is part of Amazon Prime.

The monthly royalties paid will be based on the book’s share of the total number of borrows for that month.