Peterborough and area transit services will receive nearly $56 million in government funding over the next decade.

It’s part of a new $22-billion federal-provincial cost-sharing agreement for infrastructure projects announced on Friday. The agreement aims to “create economic growth, build inclusive communities and support a low carbon green economy,” according to a release from the federal government.

The City of Peterborough will receive more than $31.1 million from Ottawa along with $25.7 million from the province.

READ MORE: Ontario to receive $11.8 billion in federal funding for transit, environmentally friendly projects

Peterborough County is earmarked for nearly $24,000 from the federal government and $19,775 from Ontario.

Peterborough-Kawartha MP Maryam Monsef says transit matters to Peterborough residents and that the partnership will improve the economic and environmental sustainability for residents.

Monsef noted at a recent Rural Women’s Summit in Buckhorn, about 30 kilometres north of Peterborough, transportation was the “number one barrier and opportunity for social and economic growth” for rural communities.

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