Such terrible news in Manchester. Thoughts and prayers with all those affected,” Toure tweeted on Tuesday morning.
The news of the donation was revealed by Sky Sports News HQ which was told that Toure felt the need to help when details of the first victims were made public.
Twenty-two people, including children, were killed and at least 59 injured after the explosion shortly after 10.30pm.
“The news an eight-year-old girl went to see her favourite singer and didn’t return home is too much to bear,” Toure’s representative Seluk told Sky Sports News HQ.
“Yaya and I want to help. We talked this morning about what happened and he asked me what he thought we could do.
“We have agreed to donate £50,000 each to help the victims of this terrible crime. It doesn’t matter whether the victims are from Manchester or not.
“Those of us lucky enough to work every day in football can do so because of the generosity of fans across the world.
“Yaya is from Cote D’Ivoire (Ivory Coast), I am Russian. It doesn’t matter. Today is a chance for those of us in football to help out.
“My son is eight years old and I can’t image the pain and the suffering that the parents of Saffie will be going through today.”
Muslim taxi drivers were praised for offering victims and other concert-goers free lifts home after the explosion, directing passengers to safe places to be picked up, as well as offering water and helping to charge their mobile phones.
The attack has been widely condemned by British Muslim leaders, including the Muslim Council of Britain and Manchester’s Ramadhan Foundation.