US Secretary of State John Kerry said that Washington is closely coordinating with Myanmar officials.
"We will soon announce a flood relief aid package," Kerry said at a meeting of Association of South-East Asian Nations (Asean) foreign ministers in Kuala Lumpur.
He also expressed his condolences to those affected, but did not provide detail of the assistance to be provided.
"Australia will provide 2 million dollars toward the relief efforts," Foreign Minister Julie Bishop said.
"We are working with the Myanmar government and humanitarian partners to determine how funding will be allocated," she told her Asean counterparts.
Weeks of heavy rain during the monsoon season have left at least 60 people dead and damaged more than 520,000 acres of farmland across mainly northern parts of Myanmar.
The government on Tuesday warned low-lying southern regions to expect more flooding.