The Cabinet could be asked to approve 73 million euro extra as a result of the flooding crisis.
At its first meeting of the new year, ministers will discuss measures required to tackle the current floods and ways to prevent recurrences in future.
Taoiseach Enda Kenny will also meet agencies responsible for the River Shannon, with 60 communities vulnerable along its catchment area.
Political editor with the Irish Examiner, Daniel McConnell, says Environment Minister and Tipp TD Alan Kelly will make the case for additional funding.
"He had already put in place 8 million euro - that obviously has been used up already - so he's now looking for a further 18" he said.
"We also know that there was a 10 million euro humanitarian fund from the Department of Social Protection in place - plus this 5 million fund for small businesses who couldn't get flood insurance".
"So at the moment the running total is about 73 million - but that is likely to go up" he added.