Cambridgeshire and Peterborough will receive almost £10.6m as part of a wider effort to introduce “London-style buses” nationwide.
The funds have been allocated to the Cambridgeshire and Peterborough Combined Authority from a £1bn Government investment.
For this purpose, funding was distributed based on need, levels of deprivation and population instead of regions competing against each other for the cash.
A press release from the Department for Transport also said popular routes will be enhanced, rural services protected and bus use further encouraged.
It added the scheme aims to prevent service reductions on at-risk routes and will improve the punctuality of bus services.
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Transport Secretary Louise Haigh said: “The value of regular and reliable bus services cannot be understated.
“For far too long, the East of England has been suffering from unreliable services with buses hugely delayed, or not even turning up at all.
“This funding kickstarts the bus revolution to bring an end to the postcode lottery of bus services, drive economic growth and make sure people have proper access to jobs and opportunities."
Dr Nik Johnson, the Mayor of Cambridgeshire and Peterborough, described the announcement as a "huge and welcome investment" for bus services.
He said: "With £2.3m awarded in previous years, and like most authorities nothing before that, this £10.6m really is an unprecedented bump in our public transport fortunes.
"We will need time to work out what this means for us, but clearly such a significant boost to our resources will only be a good thing for the region’s bus network.”
Cambridgeshire and Peterborough Combined Authority’s public consultation on bus franchising closes on Wednesday (November 20).
Residents are being invited to share their views on how bus services across the county are being run.
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