CAIRO
Israeli President Reuven Rivlin on Wednesday officially assigned leader of the right-wing Likud Party Benjamin Netanyahu with forming Israel's next government, Israeli media has reported.
Netanyahu's Likud Party won 30 seats in last week's Knesset (parliament) election, while its closest rival, the Zionist Union Party, won 24 seats only.
Netanyahu has secured the support of 67 Knesset members to form the next government.
Under Israeli law, the Knesset member tasked with forming the government has 28 days to complete the task. The president can extend this period for up to 14 additional days.
The cabinet lineup must be approved by the Knesset within 45 days of the announcement of the election results.
Soon after he was officially assigned the mission of forming the government, Netanyahu said Israel would reach its hand out to make peace with the Palestinians.
He added that his government would work to strengthen its alliance with the U.S., but also work to prevent world powers from reaching a deal with Iran on the latter's nuclear program.