Crossroads and Killygordon Enterprise have been awarded €5,000 under the Local Authority Waters Programme.
The funding came as part of a national fund of €500,000.
The money will be used to carry out a professional feasibility study into the potential benefits of the River Finn, and its tributaries and how they could benefit the local area’s economy and health and wellbeing of its inhabitants.
It also aims to establish ways to improve the quality of the waterways for aquatic life as well as the possibility of providing riverside walkways for potential blue way development.