The Catholic Diocese of Dromore in Northern Ireland is establishing a redress scheme for victims and survivors of clerical sexual abuse.
It is the first time any diocese on the island of Ireland has set up such a compensation scheme.
Individual awards of up to £80,000 will be made "to reflect the personal injury and consequences caused".
The diocese said it has up to £2.5m that it can use for this scheme and is "scoping its assets" in the event that further resources are needed.
All applications for redress will be assessed by an independent panel.
The scheme will be open to anyone sexually abused or the subject of sexual grooming by a member of the clergy or a representative acting with the authority of the diocese while they were aged under 18.
The abuse must have occurred between 1 January 1950 and 31 December 2010.
At least 70 people eligible to apply have been identified and contacted by church authorities.
More than half of them claim to have been abused by the late Fr Malachy Finegan, a former principal of St Colman's College in Newry, Co Down.
In a statement, the Diocese of Dromore said it "apologises unreservedly for the hurt and damage caused to victims and survivors by any priest or church representative acting under its authority".
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It said the diocese "finds such behaviour towards children and vulnerable people abhorrent, inexcusable and indefensible" and that the scheme will be "victim-centred".
The diocese added that it was "committed to doing what it can to help bring healing to the survivors of clerical sexual abuse, and to all those affected by these egregious crimes".
The diocese said it expects payment of any compensation to be made within three months of an application being submitted.
Applicants must agree not to issue any legal proceedings against the diocese during the time of their participation, and anyone who has already initiated legal proceedings must agree to suspend them.
By accepting a settlement, applicants will waive their right to pursue any further legal claims.
The scheme was announced by the Catholic Primate of Ireland Archbishop Eamon Martin, acting in his capacity as apostolic administrator of the diocese.
Archbishop Martin was appointed to the role by Pope Francis in April 2019 following the resignation of Bishop John McAreavey the previous year amid controversy about him celebrating mass alongside a priest he knew to be a paedophile, the late Fr Finegan.
Last year, a former pupil of St Colman's College was awarded a six-figure sum in damages for sexual abuse and physical assaults by the priest.
The archbishop said he wanted to facilitate a resolution process having met a number of survivors and examining existing legal claims against the diocese.
In a statement, Dr Martin said: "I have engaged with many victims and their families particularly in preparation for, and since, the international meeting on Protection of Minors in Rome with Pope Francis in early 2019.
"The impact of abuse on victims and survivors is deeply personal and is carried differently by each one. I try not to lose sight of the individuals involved, or their personal journey, nor the hurt felt by those close to them.
"The Diocese of Dromore has proactively made contact with representatives acting for victims to offer a personal meeting with me in addition to proposing a comprehensive process of resolution for outstanding claims."
In addition to financial compensation, the scheme also offers the possibility of a personal apology, pastoral support and to counselling and therapeutic costs.
