The disaster in the Indian Ocean region will be the subject of a specially convened meeting of EU foreign ministers on Friday.
Luxembourg, which currently holds the EU presidency, said the meeting would also be attended by aid and health ministers.
The EU and its member states have so far pledged a total of €436m, but that figure is likely to rise substantially.
European Commission President Jose Manuel Barroso is to travel to an emergency summit in Jakarta on Thursday along with
Luxembourg Prime Minister Jean-Claude Juncker.
UK calls for debt suspension
Earlier, the British government called for an immediate freeze on foreign debts owed by the countries hit by the tsunami disaster.
The British Chancellor of the Exchequer, Gordon Brown, said he was suggesting an immediate moratorium on debt repayments, with the possibility that some debts would be written off.
Britain is the current president of the G8 group of leading industrialised countries.
UK Foreign Secretary Jack Straw will chair the international summit in Jakarta.
Meanwhile, the United Nations has warned that the number of people killed in the Indian Ocean disaster could rise significantly from the current count of 150,000.
Death toll rise in Sri Lanka
In Sri Lanka there are growing fears that the death toll from the tsunami maybe far higher than the 35,000 being spoken about by the authorities.
Heavy rains have been seriously hampering efforts to help hundreds of thousands of people made homeless by the tsunami. The rain has flooded camps set up to house the refugees, causing sanitation problems and threatening to spread disease.
More US marines have been arriving in the southern Sri Lankan port of Galle on a humanitarian mission to help survivors.
As well as bringing emergency supplies, they will be helping to repair roads and bridges damaged by the waves that swamped the coast.
Child abduction feared in Indonesia
The Indonesian government has banned children under 16 - caught up in the disaster - from being transferred out of the country.
UNICEF has said it has received reports that children orphaned in the Asian tsunami are being abducted - possibly for sex trafficking.
The Executive Director of UNICEF, Carol Bellamy, says gangs have been offering children for adoption.
Meanwhile, with aid workers struggling to reach the areas worst hit by the tsunami, the Interior Ministry has confirmed that 400,000 people have been made homeless.
However, aid flights into the only airport in the Sumatran province of Aceh have resumed.
They came to a halt this morning when the airport was shut after a cargo aircraft hit a buffalo. Aceh is where most of the estimated 94,000 deaths in Indonesia occurred.
Donation contact numbers
The following are contact numbers for some of the aid agencies appealing for donations for the humanitarian operation in southern Asia.
Irish Red Cross: 1850 50 70 70
Concern: 1850 410 510 / from NI 0800 410 510
Trócaire: 1850 408 408 / from NI 0800 912 1200
UNICEF Ireland: 1850 767 999 / from NI 08457 312 312
GOAL: 01 2809779
Oxfam Ireland: Lo-call 1890 60 60 65 / from NI 0845 303 0337
The Hope Foundation: 021 4292990
Disasters Emergency Committee (UK umbrella body): 0870 60 60 900
