The International Monetary Fund approved a $10.2 billion loan for Russia in what amounts to an expression of political support by Western governments for Russian leader Boris Yeltsin in advance of presidential elections in June.
U.S. officials praised the decision to approve the loan, which is the second biggest in IMF history after a $17.8 billion credit to Mexico last year.
Treasury Secretary Robert E. Rubin said the loan would help Russia "build free markets and achieve the benefits of reform" provided Russia accomplished structural reforms proposed by the IMF.