The money would go towards repairs of the runway at Funafuti Airport, which was being damaged by water infiltration exacerbated by tidal and sea level impacts.
Several trial design solutions for the problem would be tried during this cyclone season.
The World Bank's Pacific country director, Michael Kerf, said it was imperative that Tuvalu's only international airport continues to function safely.
He said the project would help Tuvalu be resilient from the impacts of climate change.
The Tuvalu Aviation Investment Project began in 2011 and prior to the latest grant, it had already been given $US20.8 million.
Photo: Wikimedia Commons. Caption: Children watch as a small plane comes in to land at Funafuti airport in Tuvalu.
Radio New Zealand