The investment, part of the government’s Pride in Place programme, will be delivered over the next decade.
Carlisle’s Raffles and Morton area are among 169 areas across the UK set to receive £2 million annually over the next decade.
It is hoped Labour’s £5 billion Pride programme will see neighbours and families across the UK ‘lead the revival of their communities’.
Cllr Abdul Harid, who represents the Belle Vue ward, said: “£20 million is a huge opportunity to make a real difference in our community – improving the spaces we share, supporting our young people, and creating new chances for everyone who calls Belle Vue home. This investment is about building a stronger, prouder future together.
“What excites me most is that this isn’t just money coming in from outside – it’s an investment that will be guided by the people of Belle Vue.
“I want to hear from residents, community groups and local businesses about what matters most to them, so together we can make sure every penny makes a lasting difference,” he said.