The Ironbridge Gorge in Shropshire, a UNESCO World Heritage Site, is under threat from subsidence, slippage and landslides.
The grant has been welcomed by Telford and Wrekin Council, who said that "around £80m" would be required to fully protect the gorge and its bridge.
Work to be carried out involves drilling and grouting old mine workings and strengthening slopes and the river banks. The council says it will take four years.
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A spokesman said land instability in the gorge "is nothing new".
The bridge was built in 1779, with cracking first reported on the structure as early as 1784. Since then, it has required constant maintenance.
Communities Secretary Eric Pickles said: "It is vital that we do not let places like Ironbridge Gorge deteriorate or slide out of sight", and described it as "a testament to British ingenuity and ambition."
Councillor Richard Overton said: "The bill we face to do this is beyond our means, so we are pleased that Government has found this money to go towards tackling this most pressing need."
The council has spent more than £16m on solving land instability problems in the gorge since 2001.
In the middle of the last century, plans were formed to demolish the bridge and build a new one.
1967 saw the establishment of the Ironbridge Gorge Museum Trust, intended to preserve the legacy of the Industrial Revolution by protecting and maintaining the six square miles of the Ironbridge Gorge.
Between 1972 and 1975 £147,000 was spent on repairing, re-enforcing it and resurfacing the bridge.
(IT/GK)
