The Greek government has pledged to revise blanket cuts in funding for sport and allocate an extra $14.38 million to stop some beleaguered federations from closing down.
Rowing was one of the sports that would benefit, officials said. Last month, world championship silver medallists Nikos and Apostolos Gountoulas quit the sport, complaining that elite athletes could no longer afford to compete for Greece because of funding cuts.
The budget for Olympic sports federations has been slashed by 50 percent year on year since 2010, while cuts of between 60 and 80 percent were due to be put into effect for 2013 under the country's austerity measures.
A total budget of $19 million was officially announced last week but, after meetings between Hellenic Olympic Federation (HOC) officials and sports federation heads, the government had agreed to provide more funding to help between 300 and 400 federations, sports minister Giannis Ioannidis told a news conference on Wednesday.
"After discussions with the prime minister I have been given the okay to add an additional 11 million euros to the existing 14.5 million," Ioannidis said.
The minister said mistakes had been made in previous budgets and many federations had serious economic problems.
"Unfortunately in the past there have been many favours done in the drawing-up of previous budgets, but I am not a person who does this," he said.
"We arrived halfway through the year and we could not change the way the budgets were shared out at that point... Now we will make sure that the money goes to where it is needed most.
"The most successful last year was rowing. We have no obligation to help that federation but we have to do it and we will. Sport is an investment"
Sports minister Giannis Ioannidis
"We can't give money to all 5,000 federations but to the 300-400 which are creating growth. The most successful last year was rowing. We have no obligation to help that federation but we have to do it and we will. Sport is an investment."
HOC president Spyros Capralos, re-elected for a second term this month, ha warned that several federations could close down because of the funding cuts.
The cash-strapped athletics federation (SEGAS) has suspended its operations twice in 12 months in protest at cutbacks in state funding since 2008.
Water polo and swimming have also suffered, with Greece pulling their swimmers out of the European short-course championships at the end of last year for the first time in 16 years.
Rower Nikos Gountoulas, who with his twin won four European titles, said of their decision to give up after 13 years in the sport: "We've reached the point at which we simply can't continue without economic support (from the state)."
The government also withdrew £248 million of funding for accommodation projects for the Mediterranean Games, which were supposed to be held in Volos and Larisa in 2013 but were moved to Mersin in Turkey instead.