Mr Albanese said, "This is part of $50.5 million in funding that the Rudd Government is delivering to fix black spots on local roads across Australia.
"We are committed to reducing crashes on our roads. Accidents take a huge toll on families, our communities and the economy."
Dr Kelly said, "This is a serious investment in safer roads for local motorists and their families. This project will help drive down the appalling social and economic cost of road carnage."
The project is $60,000 to improve lane clarity by installing curve-alignment markers at Kings Highway and Glenmore Road in Braidwood.
Mr Albanese and Dr Kelly said that the project was assessed and recommended by a panel of independent road safety experts.
The experts included the NRMA, Federation of P&C Associations of NSW, Council on the Ageing, and Institute of Public Works Engineering Australia.
Mr Albanese said the program had a proven track record of saving lives.
"An evaluation of the Black Spot program has shown that it prevented at least 32 fatalities and more than 1,500 serious injuries in its first three years.
"It also returns around $14 for every $1 invested by reducing the number and cost of crashes."
Dr Kelly said, "I'm proud that the Rudd Government will honour its election commitment to increase black spot funding by a massive 33 per cent next year, up to a record $60 million. This means safer local roads for motorists, cyclists and pedestrians."
Anyone can suggest a location or a section of road for black spot funding using a nomination form that can be downloaded from www.auslink.gov.au.