The money comes from the Victorian Multicultural Commission Community Grants Program, which is designed to help not-for-profit organisations carry out building repairs or improvements.

It will be used to repair and upgrade the site’s exhibition, seminar and museum spaces. The museum contains a collection of sacred Buddhist objects and relics.

“The Great Stupa continues to bring international visits and interest to our region, and is becoming an increasingly important cultural addition to regional Victoria,” Mr Drum said.

"It will be the largest Buddhist monument in the western world and a fantastic testament to the drive of the Buddhist community in Bendigo.

“It will be the final home for one of the most outstanding religious objects in the world, the four-tonne 2.7 metre gem-quality jade Buddha which is now touring the world and which has been seen by 10 million people," he said.