East London’s share of a £148million funding pot will be pumped into projects which include reducing road speeds throughout Tower Hamlets to 20mph.

The Mayor of London Boris Johnson and TfL announced their annual cash grants for the capital, with the Isle of Dogs area and Newham both receiving boosts for schemes designed to benefit pedestrians, cyclists, road users and communities.

Tower Hamlets secured a £2.8million share - with a £300,000 chunk to be specifically channelled into introducing reduced motoring speed limits to make streets safer.

The decision comes off the back of consultations earlier this year.

Olympic borough Newham secured the largest share of cash in east London with a £5.5million grant including a £100,000 portion to reduce congestion.

This will be spent on improvements to traffic flows around the Drill Junction roundabout in a scheme similar to existing Mini-Hollands in the capital, which encourage more people to safely get on their bike offer better streets and pathways.

Congestion will also be put under the spotlight.

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Last year, the borough was awarded £1million from the same cash stream to begin the detailed design to convert the Stratford Gyratory into a two-way operation to improve conditions for cyclists, pedestrians and those who use public transport.

London’s Transport Commissioner Mike Brown said: “People in East London will see real improvements to their local areas as a result of this funding. Working with East London boroughs, hundreds of transport projects will be delivered that will benefit pedestrians and road users through safer streets and improved public squares and shopping areas. These improvements will help transform communities and boost the local economy.”

Meanwhile, Bank Junction will undergo a wholescale redesign with widened footways, cycle routes and improved public space.

The cash is used by individual councils in line with their Local Implementation Plan.

London Mayor Boris Johnson said: “This latest round of funding will help to transform scores of locations in all four corners of our great city. It is specifically targeted to help make our roads, town centres and open spaces more attractive places with better facilities for walking and safer cycling. By helping the boroughs deliver on important local transport schemes, we can help to spur jobs and growth across London.”