Applications will open from Monday 13th April.
The scheme is designed to allow rural community groups to apply for grants between £500 and £1500 for minor works and the purchase of equipment.
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Sinn Féin MLA Ian Milne welcomed the announcement.
He said: "It is important that we support the many groups that provide a range of activities for the rural community including those providing leisure, educational and health activities.
"These grants will assist these groups in getting access to the latest equipment or having their buildings maintained to the highest standards and allow them to improve their service to the community."
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