WASHINGTON, May 27 (Reuters) - The head of the International Monetary Fund said on Wednesday he would seek board approval for the issuance of $10 billion in IMF bonds to Russia "as soon as possible."

It will be the first time the global financial institution will use its authority to issue bonds and is part of efforts to raise additional resources for its lending operations.

"I have received a communication from Prime Minister Putin informing me of the Russian Federation's intention," IMF Managing Director Dominique Strauss-Kahn said. "I am very gratified by the Russian Federation's intention to invest in IMF paper."

(Reporting by Lesley Wroughton; Editing by Diane Craft)