The Red Cross (IFRC) says that it can begin distributing crucial aid supplies to crisis-hit Venezuela in two weeks time.
According to IFRC head Francesco Rocca said the group could initially help 650,000 suffering a lack of food and medicine.
Opposition leader Juan Guaidó said the government had “recognized its failure by accepting the existence of a complex humanitarian emergency”.
In February, Maduro used the army to block an effort led by Guaidó to bring in US-backed aid convoys.
Guaidó, the head of the opposition-controlled National Assembly, declared himself interim president in January, winning the support of more than 50 countries, including the US.
Maduro regarded the aid convoys as a veiled US invasion.
“We estimate that in a period of approximately 15 days we will be ready to offer help. We hope to help 650,000 people at first,” Rocca said in news briefing in Caracas.
Rocca said Venezuela had met the conditions for humanitarian work to be carried out.
IFRC head also said it would need to be able to act with “impartiality, neutrality and independence” and no interference.
Meanwhile, the US welcomed the announcement as a “real opportunity” and said it would be “happy to put some of our aid into this method of reaching the Venezuelan people”.
Hyperinflation and a lack of supplies has meant food and medicine are often unaffordable, leading to malnutrition.