Campaigners had been calling on ministers to confirm the funding, warning that schools needed to know urgently in order to plan sports provision from September.
Primary schools currently receive the funding based on the number of pupils in years 1 to 6, with most schools getting £16,000 as well as an additional payment of £10 per pupil.
The Department for Education (DfE) has also confirmed that there is to be a new digital tool for the PE and Sport Premium to support schools in using the funding in the most effective ways. The DfE says that schools will receive updated guidance this summer.
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