The Garden Bridge Trust has a reserve of £9m put aside to compensate the cancellation of any contractors or suppliers who were involved with the now scrapped project.
The Department for Transport (DfT) has agreed to cover the cost.
The Trust had various commercial and contractual agreements in place which have had to be terminated following the closure of the project. All parties who were involved in the development of the bridge will be paid a sum to cover the cancellation.
Major contractors who were involved in the project have already been paid for their pre-construction work which fell in line with an agreement to be paid on a month by month basis.
The Garden Bridge project was officially abandoned earlier this month after it failed to raise funds following the withdrawal of support of Mayor Sadiq Khan.
At least £37.4m of public funds had already been spent on the project which was initially proposed by previous mayor Boris Johnson.
Khan said that he had a “duty to ensure taxpayers’ money was spent responsibly”.