The G7 group of industrialised nations has announced a freeze on debt payments from the countries affected by the Asian tsunami.
The British Chancellor, Gordon Brown, unveiled the accord.
Earlier this week, he said the proposal would initially be worth about $3bn for the worst-hit nations.
The deal will only freeze repayments, rather than cancel the debt itself.
The Minister for Foreign Affairs, Dermot Ahern, earlier said money pledged by EU countries must be in addition to their normal overseas aid funding, and must be delivered upon.
Mr Ahern has been attending a meeting of EU foreign ministers in Brussels to discuss further action on the disaster.
The death toll from the disaster continues to rise and now stands at more than 153,000.
The meeting is also being attended by the Minister of State for Overseas Development, Conor Lenihan.
Mr Ahern is due to leave tomorrow on a visit to Thailand, Indonesia and Sri Lanka to review the situation at first hand.
Speaking on RTÉ's Morning Ireland, Mr Ahern said there were three to four cases of missing Irish citizens he was worried about.
The US Secretary of State, Colin Powell, has said his country would maintain a presence in the stricken country for a long time. He was speaking while visiting Sri Lanka.
Toll revised
Meanwhile, the figure for the number of British citizens who are dead or missing has been revised upwards to 440.
The new figure was announced by Britain's Foreign Secretary, Jack Straw, who is in Thailand.
The number of Britons confirmed dead has now reached 50.
391 remain unaccounted for. This more than doubles the previous estimate of British fatalities.
