The transatlantic voyage of the troubled ship, the Jeanie Johnston, is back on track after Shannon Development decided to back the latest rescue plan.
The agency will put up the €190,000 needed to support the famine ship project.
After six weeks of deliberation it said it intends to support the proposal put forward by the Kerry Group.
This would see both of them work with local authorities to plan a voyage to North America early next year.
In the meantime the ship will visit Cork, Dublin and Belfast in the next few months.
The new board will also settle with trade creditors still owed €1.5m.
After that the Jeanie Johnston will set sail for the US nearly three years behind the scheduled Millennium voyage.