First Minister Nicola Sturgeon said the funding will help create jobs and attract private investment to one of the most deprived areas of Scotland.

Clyde Gateway is a partnership between Glasgow City Council, South Lanarkshire Council and Scottish Enterprise, backed by funding and direct support from the Scottish Government. The programme covers the east end of Glasgow and the north part of South Lanarkshire.

Ms Sturgeon and her cabinet will take part in a full day of events in the area to mark a decade of investment there, culminating in a public discussion at the Emirates Arena.

The First Minister said: “This funding underlines the Scottish Government’s long-term commitment to Clyde Gateway over the term of this Parliament. It will act as a catalyst for investment and deliver a physical, social and economic transformation of what has historically been one of the most deprived areas in Scotland.

“Clyde Gateway has worked tirelessly to tackle inequalities, while establishing and maintaining excellent relationships with the local community, playing a huge part in making it a fantastic location for people to live and businesses to locate.”

Lord Smith, chair of Clyde Gateway, added: “This announcement of long-term funding is very welcome. It ensures Clyde Gateway will continue to deliver and support the broad range of projects and activities which are helping to overcome complex and time-consuming challenges.

“I would like to thank the First Minister and her colleagues for ensuring that Scotland’s biggest and most ambitious regeneration programme remains very much on track.”