Flat payments of £10,000 will be available to agents operating from commercial premises, and £3,500 to self-employed agents working from home.
Agents will have a week to apply for grants, starting 19 March.
First minister Arlene Foster and deputy first minister Michelle O’Neill said the support scheme was necessary to ensure the "continued viability" of the country’s travel agency sector.
Abta has welcomed the move, which it said recognised the "massive impact" the pandemic has had on travel agency businesses.
