Work will begin on plans for an Edinburgh City Region which could generate investment in Fife.
A similar deal for Glasgow invested £1.13B on roads, public transport and other infrasructure.
It's hoped it can improve travel through the Kingdom and boost the local economy through the likes of Fife Energy Park and regenerating run-down areas.
The local authority will work with Edinburgh City Council as well as Lothians and Borders on the plans.
Depute council leader Lesley Laird said: "Being part of an Edinburgh City Region could unlock millions of pounds of investment for each area involved and lead vital infrastructure improvements that the council alone wouldn’t be able to afford.
It’s vital work begins now to ensure we’re not left behind with work that’s already beginning in other areas like Glasgow, Manchester and Leeds.
Being part of a City Region gives us the opportunity to further enhance the local economy and is one of a number of ways we’d like to realise our aspiration of helping make Fife the best place to do business."
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