French President Francois Hollande announced the contribution during a conference jointly organized by France and the United Arab Emirates in Abu Dhabi.
Backers of the Safeguarding Endangered Cultural Heritage conference hope to attract an initial USD 100 million for the fund.
In coordination with UNESCO, it aims to prevent or stop destruction of historical sites, fight trafficking of stolen artifacts and pay for the restoration of sites damaged by war.
"What we have to do today, and what we have managed to do, is to ensure the future of what is precious to humanity," Hollande told dignitaries gathered at an ornate beachside hotel in the Emirati capital. "It is already late."
Islamic State militants have deliberately stolen or destroyed cultural artefacts in areas they've seized, including the destruction of the ancient Syrian town of Palmyra, and the looting of the Mosul museum.
Just last month, Iraqi forces retook the 13th century BC Assyrian capital of Nimrud, south of Mosul, from the militant group. They found intricate reliefs smashed into pieces.
France has built increasingly strong ties to the seven-state Emirates federation over the years. Cultural outreach is a key pillar of that effort, including the establishment of a satellite campus of the renowned Sorbonne University in Abu Dhabi a decade ago.
Workers are still putting the finishing touches on a much-hyped branch of the Louvre art museum, which will be the centerpiece of an ambitious cultural district on Abu Dhabi's Saadiyat Island.
France has long seen the Emirates as a key potential customer for its Rafale fighter jet, though negotiations have dragged on for years without a deal being reached. The plane is built by French defence contractor Dassault Aviation. No deal was announced today.
Qatar, which like the Emirates is part of the six-member Gulf Cooperation Council, agreed to buy 24 Rafales at a cost of $7 billion last year. And in September, India signed a nearly $9 billion deal to buy 36 of the delta-winged fighters jets, far fewer than the more than 100 earlier envisioned.
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