As part of the Churches Renewal and Reform proposal, the investment plans to establish a stronger presence within local communities and share the gospel message to more people.
Approximately £63m will be earmarked for the training and recruitment of new ministers across the dioceses between 2020 and 2022 as part of a church-wide goal to increase candidates for ordination by 50 per cent.
Up to £20m of funds will be given to mission and outreach projects in poorer neighbourhoods, to support schemes that offer affordable housing and tackle poverty.
Struggling cathedrals are set to receive up to £10m to help them develop sustainable financial strategies and protect historic places of worship for future generations.
Welcoming the announcement, the Archbishop of Canterbury, Justin Welby said:
"Our ongoing and new investments underline our commitment to supporting the growth of God's Kingdom, so that more people can come to know the hope of Jesus Christ in their lives.
"The funding strengthens the ability for the whole of the Church to bear increased witness and extend Christian love and service in the many and varied communities it serves."
The funding proposals are subject to final approval at the Annual General Meeting of the Church Commissioners on 26 June.
Stay up to date with the latest news stories from a Christian perspective. Sign up to our daily newsletter and receive more stories like this straight to your inbox every morning.