Ireland's Sports Minister Shane Ross made the announcement after meeting with Hickey's replacement as OCI President Sarah Keane and general secretary Sarah O’Shea.

Ross had frozen funding following the ticketing scandal during last year's Olympic Games in Rio de Janeiro.

Keane warned Ross today that withholding the money was beginning to have a real impact on the ability of the OCI to function properly. 

A total of €130,000 (£117,000/$156,000) was withheld in 2016 and, under normal circumstances, the OCI would have expected to receive another €300,000 (£270,000/$360,000) this year through Sport Ireland.

In a statement following the meeting with Keane and O'Shea, Ross claimed he is now satisfied that the outgoing funding for 2016 “was spent on athlete related activities and is in order for reimbursement”.

He added: "With regard to funding for 2017 onwards, I will engage with the OCI and Sport Ireland in joint pursuit of continued progress in the months ahead."

Last month, the new OCI Board agreed to accept all the findings of the Moran Report into the Rio 2016 ticketing affair.

Following publication of the Report, the OCI Board warned they would "not accept the return" of the 72-year-old Hickey.

They also promised it would "fully cooperate" with an investigation by the International Olympic Committee (IOC) Ethics Commission of their former President.

"I am very supportive of the efforts undertaken in recent months by the new Board of the OCI and recognise the real progress made," said Ross.

Hickey remains a member of the IOC but is currently "self-suspended" and is missing the Session due to start here tomorrow.