The Pride in Place programme aims to empower neighbourhoods to make the changes they need to restore local pride and reinvigorate their areas.
Prime Minister Keir Starmer said: ‘We're backing the local residents who step forward, join their neighbourhood boards, and help shape a decade of transformation.
‘This isn't about short-term fixes – it's about lasting change that restores pride, strengthens communities and creates opportunities for everyone.'
The programme will see 169 communities receive an initial £150,000 in the new year to begin rebuilding their neighbourhoods.
Local authorities and MPs in Pride in Place neighbourhoods are being asked to pick chairs to lead their neighbourhood board.
Guidance has been published setting out a range of potential project ideas and providing communities with the toolkit to choose the projects that are right for them and suit their local needs and ambitions.
