The funding has been assigned to specialty areas where it can have the greatest impact against the longest waits, which includes £25m for trauma and orthopaedics, £21m for imaging, £14m for cancer treatment and more than £12m for ophthalmology.
The investment is part of the £200m announced as part of the Programme for Government to build capacity, tackle delayed discharge and improve patient flow through hospitals.
Health secretary Neil Gray said: ‘This government is focused on taking the action needed to cut waiting lists - significant activity is already underway through this additional investment which will help us target the longest waits for treatment.
‘We are determined to reduce patient waits in the year ahead and this £106m of additional funding will help us to deliver more than 150,000 extra appointments and procedures in 2025-26. This funding is just part of our record investment of £21.7bn for health and social care this year.'