European Union member states selected World Bank Group CEO Kristalina Georgieva as the bloc's candidate to lead the International Monetary Fund.
Georgieva's nomination was announced by Mário Centeno, the president of the Eurogroup of eurozone finance ministers.
Georgieva, a Bulgarian economist who once served as the European Commission's vice president of human resources and budget, faced off against former Eurogroup President Jeroen Dijsselbloem in an Aug. 2 runoff vote.
Georgieva obtained the support of 56% of the 28 EU member states while Dijsselbloem won the backing of 44% of the member states, according to the Financial Times.
The IMF launched its selection process for its next managing director in late July after Christine Lagarde was picked by EU leaders to head the European Central Bank.
The nomination period will close on Sept. 6, and the IMF Executive Board plans to complete the selection process by Oct. 4.
In a Twitter post, Georgieva said she will relinquish her responsibilities as World Bank CEO for the nomination period.