The Australian Government has granted a more than A$1bn ($615.4m) infrastructure package to the Victorian government to boost its regional road network.

Combined with state funds, the package will be used to reduce congestion on roads and increase the safety of travellers.

Along with the funding from the state government, infrastructure projects in Victoria will receive an additional billion dollars in funding.

The financing includes accelerated federal funding of A$262m for the A$15.8bn North East Link project. The federal government committed A$1.75bn to the project with the remaining funds coming from the Victorian government.

The Australian Government also allocated A$7.1m in accelerated funding to Commuter Car Park Upgrades – Northern Lines at Craigieburn and Hurstbridge, while the federal government will provide A$70m in total for the project.

The Monash Freeway Stage 2 upgrade work will receive A$183.8m in accelerated funding to begin the construction next year. The Australian and Victorian Governments will each contribute A$683.8m for the $1.37bn project.

The Australian Government will also provide $57.6m for the A$115.2m South Gippsland Highway realignment project and A$125.7m for the A$323.7m Echuca-Moama Bridge project.

A total of $32.6m has been brought forward to start the South Gippsland Highway realignment between Koonwarra and Meeniyan in early 2020.

Moreover, $28.7m has been brought forward to enable the Echuca-Moama Bridge project completion by mid-2021.

Prime Minister Scott Morrison said: “We’ve been working closely with the Victorian Government to identify the projects that are shovel-ready to get them moving.

“We want these road and rail projects delivered as quickly as possible so Victorians can benefit from better infrastructure and the jobs and investment that come with it.”

Victorian Premier Daniel Andrews said: “I’m pleased to have struck this significant agreement, which will help us deliver the vital second stage of the Monash Freeway Upgrade.

“We’ll continue working closely with the federal government to deliver the major projects our state needs and help create Victorian jobs.”

Last week, the Australian Government approved an A$415m ($282.6m) infrastructure package for South Australia.