Mario Draghi has formally accepted the role of Italy's next prime minister and will be sworn in on Saturday.
Mr Draghi, the ex-head of the European Central Bank, has named his cabinet after meeting the Italian president.He has secured the support of almost all the main political parties, following the collapse of the previous administration last month.
It was thrown into chaos amid a row over how to spend EU coronavirus recovery funds.
Italy is still grappling with the pandemic and is also facing its worst economic crisis in decades.
The country has recorded more than 93,000 deaths, the sixth-highest death toll in the world.
The previous prime minister, Giuseppe Conte, resigned in January after his party lost support for its coalition government over plans for spending EU recovery money.