The Dáil is to vote next Wednesday on the Memorandum of Understanding between the Government and the European Union and International Monetary Fund.
Opposition parties had previously called for such a vote, but the Government said it was not necessary.
However, today's meeting of the Fianna Fáil Parliamentary Party passed a motion calling for such a vote, 'to add political legitimacy to the agreement and to force the Opposition to take a definitive position on the matter'.
The motion was proposed by backbenchers Michael McGrath and Thomas Byrne, and was supported by Taoiseach Brian Cowen.
In a statement after the meeting, Mr Cowen said he looked forward to the debate.
He said the debate would 'once again give the Opposition the opportunity to either come clean and recognise that this deal is essential and in the best interest of the country, or spell out their alternative'.
The meeting also endorsed Mr Cowen's leadership of the party into the forthcoming election.
Meanwhile, Sinn Féin has claimed that the Government's decision to hold a Dáil vote on the loan deal was the result of threatened legal action.
The party's Dáil leader, Caoimghín Ó Caoláin has published a solicitor's letter sent on his behalf to the Government yesterday.
The letter demands confirmation that a vote would be held, without which further action would be taken.
