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The funding, awarded by Scottish Enterprise, will help create and deliver the area surrounding the V&A Museum of Design Dundee building. It is understood the fund is separate to the V&A Dundee building costs.
V&A Dundee will be the first purpose-built design museum in the UK, outside of London. Due to its design, it will appear to float within two pools of water, reinforcing the connection between the museum and the River Tay. Capitalising on this riverside setting the planned design will transform the approach to the Kengo Kuma-designed building using imaginative landscaping and planting techniques to complement the extraordinary architecture.
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In addition, the new space will provide a vibrant city stage for the public to enjoy activities, events and installations at the waterfront.
Commenting on the news, Finance Secretary John Swinney said: "The financial support from the Scottish Government via Scottish Enterprise, will regenerate the Dundee Central Waterfront and will offer views over the river, the city and the museum.
"This in turn will create local jobs and contribute significantly to the regeneration of the city itself.
"The V&A project is a fantastic, once in a generation opportunity for the city to re-invent itself and enjoy greater economic success. I am delighted that the Scottish Government is part of this ground-breaking development."
Mick McHugh, Director at Scottish Enterprise added: "This is a nationally important project which will pave the way for the V&A Dundee which will be transformational for the local and national economies, both in terms of visitor numbers and jobs with more than 860 net construction, tourism and waterfront district jobs anticipated in the next decade."
The promenade works are currently being tendered as part of the overall building construction tender by Dundee City Council.
The V&A Dundee building is planned for completion in 2016 and will host major exhibitions of international design from 2017.
(JP/MH)
