The investment allows local authorities to move forward with significant infrastructure works.
This means that projects worth £172.5m around North Lanarkshire could now progress, subject to final agreement.
Three main projects have been put forward by the Council and are:
-- Advertisement --
• Investment in the roads infrastructure, serving the Gartcosh Community Growth Area
• Road capacity and bus improvements around the M74, M77 and M80
• Improved road/cycling/public transport access to businesses along the A8/M8 corridor.
Councillor Jim McCabe, Leader of North Lanarkshire Council, said: "We welcome this announcement of support from the UK Government and Scottish Government. 'City Deal' has the potential to create huge long-term benefits for the people of North Lanarkshire and the Clyde Valley.
"We look forward to taking part in further more detailed discussions on these plans in the weeks and months ahead, with the benefits to the people of North Lanarkshire foremost in our minds as decisions are made."
(JP/IT)
