The United States Department of State's Ambassadors Fund for Cultural Preservation (AFCP) has committed $500,000 to the project for implementing cultural preservation of the Shwe Nan-Daw Monastery (Golden Palace Monastery)in Mandalay Region, Central Myanmar, according to the press release of the US Embassy to Myanmar here on Saturday.

Additional support will be provided by the Myanmar Ministry of Culture and World Monuments Fund(WMF), the release said.

The two-year, multi-phased project, ranging from September 2013 to June 2015, will involve the US Embassy, the Ministry of Culture, and a US-based non-profit conservation organization WMF.

To undertake the cultural preservation of the Golden Palace Monastery, the US Ambassador Derek Mitchell and Deputy Minister of Culture U Than Swe met in Mandalay on Thursday to announce a historic new partnership between the US Embassy and the Ministry of Culture.

This partnership will foster collaboration between US and local preservation experts and help train a team of experts to conduct other preservation efforts in the future.

"This partnership is a celebration of this country's rich cultural and architectural heritage," said Ambassador Mitchell, " Even as this country develops and modernizes, it is important to preserve its unique heritage for future generations", the release added.

The historic Golden Palace Monastery, literally gold monastery, was constructed by King Thibaw in Yadanabon late era.