The French government has announced that it will pledge €200m ($267m, £160m) for urgent repairs and restoration to the iconic La Défense Grande Arche, located in Paris’s financial district.

Inaugurated on Bastille Day in 1989, the 20th century answer to the Arc de Triomphe was mastermind by Danish architect Johann Otto von Spreckelsen and completed by French architect Paul Andreu.

Standing at 110m (360.8 ft) high, 110m wide and 110m deep, the glass and marble cube is rooted to the ground by 30m (98 ft) deep foundations.

Previously attracting around 250,000 people a year, the structure is no longer in a fit state to receive visitors. The roof, which has been closed since 2010 due to safety concerns, had various attractions on offer including; a viewing platform, gastronomic restaurant, a computer museum and a conference centre.

According to a previous report, one in six of the cubes marble tiles were crumbling as a result of weathering and pollution. This in turn means the base of the north tower has also been closed off at street level for fear of falling tiles. Inside the privately-owned north tower, there is around 30,000sq m (98,425sq ft) of office space and over two thirds of it remain empty, with falling rents.

Speaking to Agence France-Presse, Paul Andreu said: "We were under heavy constraints in constructing a 'modern Arc de Triomphe' that continued the historic east-west axis in Paris. The exterior appearance was given priority over the interior. Today, we need to completely reorganise the building."