A £45M flood defence scheme aimed at protecting homes and businesses in the city is among 200 schemes in the region to get the green light from the Government.
It will also reduce disruption to around 3,000 city centre flats.
It will include replacing existing fixed weirs with two new moveable weirs, merging a section of the river and navigation, and building raised defences. The floodbanks and walls downstream from the city’s central railway station will also be strengthened.
The weirs will be lowered when the river is high, causing river levels to drop.
A spokesman for Labour-run Leeds City Council said they would be using the funding - which had been previously announced - to support the completion of the scheme between 2016 and 2018.
Coun Carter said: “If the flood had got any more severe in 2007 it would have cost the city billions in business and set us back in terms of job creation and prosperity in a dramatic fashion.
“This work needs doing.”