The first 4.2 billion of the 5.4 billion euro fund is due to be distributed this year and Ireland will receive 25%, subject to approval by EU heads of state and the European Parliament, Coveney said in a Twitter post.
"Ireland's initial proposed share in 2021 is 1.05bn euros, 25% of the fund," Coveney said. "I hope the European Parliament & Council approve as we work through Brexit."
Irish state broadcaster RTE reported that the government would apply to use the fund to support its agriculture, food and fisheries sectors.
($1 = 0.8195 euros)
(Reporting by Conor Humphries; Editing by David Gregorio)