Christine Lagarde, the head of the International Monetary Fund, said the size of the planned aid consistent with the IMF's estimate of the capital needs of Spain's banks and should provide "assurance that the financing needs of Spain's banking system will be fully met".
She said: "The IMF stands ready, at the invitation of the Eurogroup members, to support the implementation and monitoring of this financial assistance through regular reporting."
US Treasury Secretary Timothy Geithner called Spain's decision and the commitment by its European partners to provide support "concrete steps on the path to financial union, which is vital to the resilience of the euro area."
While Japanese Finance Minister Jun Azumi called it a "major first step" toward stabilising the European and global economy.
European Commission President Jose Manuel Barroso and Economic and Monetary Affairs Commissioner Olli Rehn said in a statement: "With this thorough restructuring of the banking sector ... we are certain that Spain can gradually regain the confidence of investors and market participants."
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