Girma was left prone on the track after falling at a hurdle during Wednesday night's 3000m race before being eventually stretchered off.
He was taken to hospital, according to a source at the Ethiopian athletics federation, but was not undergoing surgery.
"We understand that he's in good shape and our sympathies go to him," IOC spokesman Mark Adams told reporters, while saying he couldn't disclose medical details.
"We hope he's OK and makes a swift recovery. No-one likes to see an accident like that," he added.
Girma clipped the third-last hurdle with his knee and plunged head first into the track.
After receiving medical treatment, he left the arena on a stretcher with his neck secured by a brace.
Morocco's Soufiane El Bakkali, 28, powered home to take gold, retaining the Olympic title he won at Tokyo 2020.