Lebanese President Michel Aoun on Monday held a brief meeting with leading businessman Najib Mikati, set to receive the backing of a majority of parliamentarians later in the day to try to form a government.
Mikati has been prime minister twice before and unlike many Lebanese leaders, he does not hail from a political bloc or dynasty.
But like the previous nominee, Saad al-Hariri, he faces major challenge in navigating Lebanon's power-sharing structure to secure agreement on a cabinet to tackle a crippling financial crisis.
While Lebanon has been run by a caretaker administration for nearly a year, since a huge blast devastated large parts of Beirut, its currency has collapsed, jobs have vanished and banks have frozen accounts. The economic freefall is Lebanon's worst crisis since the 1975-90 civil war.
A senior political source said on Sunday that Hezbollah, a heavily armed Shi'ite Islamist movement which Washington deems a terrorist group, was set to nominate Mikati, and that most of the main parliamentary blocs supported the nomination.
Among Mikati's endorsers was Hariri, who abandoned his effort to form a new government last week after nearly 10 months of failing to agree its makeup with Aoun.
In Lebanon's political system, the post of prime minister has to be held by a Sunni Muslim, while the presidency is held by a Maronite Christian.