Portugal agreed on Tuesday to accept an international aid plan of 78 billion euros ($116 billion) that the country’s caretaker prime minister, José Sócrates, suggested would involve more lenient conditions than those imposed on Greece and Ireland in return for similar bailouts.

Mr. Sócrates said in a televised broadcast on Tuesday night that the creditors had agreed to give Portugal more time to cut its budget deficit than initially foreseen by his government. He described the outcome of the negotiations as “a good deal that defends Portugal.”

Still, he provided few details about the agreement, which will still require endorsement from opposition parties. Mr. Sócrates resigned in March after the Parliament refused to endorse additional austerity measures. To break the political deadlock, Portugal is set to hold another general election on June 5.

The political standoff was followed by Portugal’s bailout request in early April after the government also failed to meet its 2010 deficit target and after investors sent its borrowing costs to record highs, heightening concerns about its ability to meet forthcoming refinancing obligations.