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Speaking after his announcement Givens said: "We are looking forward to competing in this tournament in Madeira. We had great success here in 2004 when we won the competition and we hope that we can repeat that performance.
"I am delighted to welcome the new players to the squad and hope that this experience will stand to them as we look forward to the draw for the UEFA Under-21 European Championships later this week," he added.
The Republic of Ireland open their campaign against Madeira on February 14.
Republic of Ireland Under-21 Squad:
Colin Doyle Birmingham City
Darren Quigley UCD
Keith Keane Luton Town
Gerard Nash Ipswich Town
Paul McShane Brighton & Hove Albion
Marcos Painter Birmingham City
James Hand Huddersfield Town
Shane McFaul Notts County
Gary Dicker UCD
Michael Collins Huddersfield Town
Michael Timlin Fulham
Willo Flood Manchester City
Stephen Ireland Manchester City
Stephen Foley Bournemouth
Stephen Bradley Drogheda United
Aiden McGeady Celtic
Stephen Ward Bohemians
Andy Keogh Scunthorpe United
Mark Yeates Colchester United
Roy O'Donovan Cork City