A World Peace Bell and pavillion will be erected at the Canberra Nara Peace Park if enough funds are raised.
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The Rotary Club of Canberra Burley Griffin partnered with the World Peace Association to work towards placing the 23rd World Peace Bell in the Australian Capital.
The bell is currently stored at the Australian War Memorial.
The Rotary Club's Michael Rabey who is also the wolrd peace project coordinator said the ACT Government approved his proposal for the World Peace Bell Pavillion and he was now seeking donations for the project.
He hoped to reach his $100,000 target by the end of the year to start to construct the pavillion.
"We are talking to cultural groups, rotary members, the Canberra mosque, and churches for support to raise the funds," Mr Rabey said.
"We're also reaching out to the wider Canberra community and letting them know that each donation is tax-deductable."
The proposed pavillion was designed by University of Canberra architect student Lauren Kasparek and her father Fred who is a local architect.
The design is based on a Japanese Fan and will be made from core ten steel and RHJ girders.
The Canberra World Peace Bell will be placed on the peninsular in the Canberra Nara Peace Park beside Lake Burley Griffin and within the National Parliamentary Triangle.
Each World Peace Bell weighs 365kg and is rung on World Peace Day as well as the opening session of the UN General Assembly. Mr Rabey said Canberra's bell will also be rung during the Canberra Nara Candle Festival.
"The Canberra Peace Bell will represent a place where Canberrans and Australians can reflect on things that are happening in the world, to either grieve or commemorate," he said.
"So many horrible things have happened in the world since 2014 when we first came up with the idea and with this we are saying we need to stop it and find peace."
ACT Chief Minister Andrew Barr commended the Rotary Club for its determination to bring Australia's second peace bell to Canberra, with the first being in Cowra.
"The Bell, which is made from the melted coins of United Nations member countries, is a significant symbol of peace and has been installed in cities around the world," Mr Barr said.
"The location of the Bell adjacent to the Canberra Nara Peace Park is fitting and I know it will become an iconic part of the park and the foreshores of Lake Burley Griffin."
Donations for the construction of the peace bell can be made via www.canberrapeacebell.org.
