He said that most of the expense would go into the organisation of the Papal Mass on the Granaries, the Pope's meeting with young people and the Pope's visit to St Paul's Grotto.
Other costs, such as security and airport arrangements, are being borne by the state since this is also being considered as a state visit.
Mgr Cordina said the church hoped to recover some of the costs by selling or reusing the materials to be used for the building of the stages on the Granaries and the Valletta Waterfront.
The stage for the Papal Mass has been designed by Carlo Schembri and Joseph Bondin.
The Cross is the central feature and a ramp which will link the cross to the people, who will be represented by President George Abela, who will sit at the foot the ramp.
Pope Benedict will sit on one side of the Cross on a chair made mostly using special cardboard.
A crowd of some 50,000 is expected for the Mass, which will be the high point of the Papal visit on April 18 in the morning.
The Mass will be in English with the readings in Maltese.
There will be a choir of 260, half of whom will be children.
The hymns will be in Maltese and are all well known, the purpose being to encourage participation by those present.
At Noon the Pope will recite the Regina Coelis.
After Mass the Pope will present a Rosa d'oro (golden rose) to the Bishop of Gozo, Mgr Mario Grech, for Ta' Pinu Santuary in recognition of its importance as a Marian sanctuary.
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