All 211 FIFA member associations - including the FAI - will receive a grant of €1.28 million (US$1.5m) as part of the FIFA COVID-19 Relief Plan.
The plan was originally drawn up by the FIFA administration in close cooperation with the member associations and subsequently approved by the FIFA Council on 25 June 2020.
€426,000 (US$500K) of the 'universal solidarity grant' is being allocated specifically to women’s football and the full grant will be made available by January 2021 while each member association can also avail of interest-free loans of up to €4.26m (US$5m).
"All FIFA member associations will be able to apply for interest-free loans amounting to up to 35% of their audited annual revenues," reads the official FIFA statement.
"In the interest of solidarity, a minimum loan entitlement of USD 500,000 and a maximum loan entitlement of USD 5 million will be available.
"In addition, each confederation will have access to a loan of up to USD 4 million.
"The regulations establish strict compliance and audit requirements, as well as clear loan repayment conditions, under the supervision of a steering committee."
FIFA say that they will work closely with member associations in order to help implement the plan with the funds being allocated to help "the restart of competitions, the implementation of return-to-play protocols, the participation of national teams in competitions, the hiring and re-hiring of staff, the maintenance of football infrastructure, and general administration and operating costs."
FIFA President Gianni Infantino said: "This relief plan is a great example of football’s solidarity and commitment in such unprecedented times.
"I would like to thank my colleagues of the Bureau of the Council for approving the decision to move forward with such an important initiative for the benefit of all member associations and confederations."
The news should come as a major boost to an already cash-strapped FAI which was dealt a huge financial blow by the Covid-19 pandemic.
Those financial constraints affected the FAI's ability to get the men's and women's domestic leagues back underway.
The 2020 SSE Airtricity League season will recommence this weekend while the 2020 Women's National League gets underway next month.