Pat Hickey is to get a loan from the Association of National Olympic Committees to pay his bail in Brazil.
Mr Hickey was arrested in Rio in August and was held in the high-security Bangu prison. He was granted the right to leave Brazil for health reasons by a judge.
In granting bail, Judge Fernando de Almeida said releasing Pat Hickey "would not bring any obstacle or risk to public order", or undermine the criminal investigation against him.
The Olympic Council of Ireland said last month that it would not pay Pat Hickey's bail bond of €400,000.
The Association of National Olympic Committees (Anoc) has now confirmed it will loan Mr Hickey the money "on humanitarian grounds... to return home for medical reasons.
"The decision was unanimously approved by Anoc president Sheikh Ahmad al-Fahad al-Sabah and all Anoc vice-presidents via a postal vote on 20 November 2016...The terms of the temporary loan make it clear it must be repaid to Anoc in full."
The 71-year-old denies allegations that he was involved in ticket touting at the Olympic games.