European ministers have agreed on a financial rescue scheme for Ireland worth about 85 billion euro.
The Irish government said 35 billion euros was earmarked to help restructure its shattered banks, of which 10 billion would be an immediate capital injection and the rest a contingency fund.
The rest of the emergency loans, which Dublin said were granted at an average interest rate of 5.8%, will be used to help cover the government's day-to-day spending.
Ireland will contribute 17.5 billion euros of its own cash and pension reserves towards the bank rescue.
The Irish government had believed it would pay 5%, and the agreed rate is still higher than many in Ireland had hoped for, but Irish Prime Minister Brian Cowen said the loans were necessary, the BBC reported.
Mr Cowen said the loans would provide money that the country had already planned to borrow on the international markets, and will be at cheaper rates than on those markets.
IMF chief Dominique Struass-Kahn said the Fund would contribute 22.5 billion euros to the bailout, and said it is likely to be approved by the IMF board in December.
The Irish government applied for aid last Sunday when it conceded the banking crisis was too big for the country.
