Bank of Ireland is loaning part of its iconic building in Dublin's College Green to the State for ten years.
It will host a Cultural and Heritage Centre to stage exhibitions and other cultural events for the public.
The former Irish Houses of Parliament is now used by the bank as a city centre branch. Architect Edward Lovett Pearce designed the building in the 1720s.
James Gandon, famous for landmarks including the Four Courts and Custom House, added later extensions.
Bank of Ireland will also allow guided access to the House of Lords for visitors to the centre.
Minister for Arts and Heritage Jimmy Deenihan said Bank of Ireland would cover the costs of renovation. The State will be responsible for curation and running events.