The initiative will create 12km of connected path- and cycle-ways from Glencairn to Bog Meadows in the west of the city to link open spaces in traditionally isolated communities.
The funding is part of the Council’s £8.79m PEACE IV Local Action Plan, which has been funded by the European Union. Match funding has also been given by the Executive Office in Northern Ireland and the Department for Rural and Community Development in Ireland.
The works will also involve the redevelopment of Springfield Dam and Park, which includes recreational facilities and environmental enhancements.
"A key ambition of the Belfast Agenda, the city’s first community plan, is to address the issues of division and segregation that directly impact on individual life opportunities and the ability of organisations to deliver effective public services in the city," says Councillor Deirdre Hargey, Lord Mayor of Belfast.
"By continuing to lead this investment and involving local people, we hope to continue to create facilities that will be used by all communities and that bring social, economic, and environmental regeneration to local neighbourhoods."
Work will begin on Connecting Open Spaces in 2020, with completion slated for 2021.