Reid, 25, has represented New Zealand at the 2018 Commonwealth Games on the Gold Coast, where he was a bronze medallist in the triathlon mixed relay, and the Tokyo Olympics last year.
The athletes were nominated by their national federations and selected based on their athletic achievement and dedication to competing at the highest level.
The funding is distributed through the International Olympic Committee’s Olympic Solidarity programme, which is handing out almost US$600 million in athlete scholarships and national federations’ coach and athlete development programmes in the Olympic quadrennial 2021-24.
New Zealand Olympic Committee chief executive Nicki Nicol said the grants lightened the financial load for the athletes on their Olympic journey.
She said Olympic Solidarity had funded 10 athletes on Beijing 2022 Winter Olympic Games scholarships. Seven of them went to Beijing, and two won medals.
Meanwhile, the competition schedule for the Paris 2024 Olympic Games has been unveiled after being approved by the IOC executive board.
Under the schedule, 32 sports will be contested across 19 days of action, with 329 events to take place across 762 sessions.