The game which has been scheduled to play on 31st May will help raise funds for the resurrection of two grounds at James Ronald Webster Park in Anguilla and Dominica's Windsor Park Stadium that was damaged by Hurricanes last year.
Morgan, who leads England in the limited overs format said he is excited about captaining World XI side against the T20I defending champions Windies for a 'worthwhile cause'.
"I am delighted to captain the ICC World XI at Lord's in May against the West Indies," said Morgan.
"The cricket family always comes together to support worthwhile causes and this one-off T20I, featuring some of the best players in the world will be a great spectacle at the home of cricket.
"I am sure the sporting public will come out in force and help raise money and awareness towards restoring parts of the Caribbean hit by Hurricanes Irma and Maria in September last year, which ripped through many communities in this beautiful part of the world."
The match has been organised with a coordination from International Cricket Council, England and Wales Cricket Board and MCC along with Cricket Windies and will have an international status.
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