"It is now clear that these are areas of critical need.
"Funding will also be available to New Zealand non-government organisations to support ongoing relief and early recovery efforts in Solomon Islands.''
The announcement came as the official death toll was raised to 23.
An Air Force Hercules left New Zealand yesterday carrying relief supplies.
Disaster response specialists from New Zealand government agencies, non-government organisations, and the Red Cross were also aboard the flight and were helping with relief efforts, Mr McCully said.
"New Zealand will consider a wider recovery package as Solomon Islands undertake longer term reconstruction efforts.''
Prime Minister John Key said he had spoken to his counterpart in the Solomon Islands, Gordon Darcy Lilo, who had updated him on the situation.
"There's obviously quite a lot of people - in the order of 40, 50, 60 people that are very seriously injured,'' Mr Key said.
"I made it clear to him that we would give to the Solomon Islands anything that they required really to get through this.
"We're working closely with the Australians. He seemed very comfortable and very grateful with what New Zealand had done,'' he said.
Overall, the country's security situation remained under control, Mr Key said.