Paschal Donohoe has been elected as the new president of the Eurogroup, the group of eurozone finance ministers.
Minister Donohoe takes over the presidency from Portugal's Mário Centeno.
Eurozone ministers chose the new president during a video conference meeting today.
None of the candidates won enough support to be elected during the first round of voting - but the second round saw Minister Donohoe secure more votes than Spain's Nadia Calviño.
Following the vote, Minister Donohoe said: “The Eurogroup is the economic engine for the eurozone and the single currency.
"My immediate priority, as President, will be to chart a common way forward on building the European recovery, strengthening the eurozone economy, and promoting sustainable and inclusive growth for Member States and their citizens."
Taoiseach Micheál Martin also welcomed Minister Donohoe's appointment, calling it "good news for the country".
Congratulations to @Paschald on his election as President of the #Eurogroup It is a great endorsement of his personal experience and skills, and it is good news for the country. Having an Irish voice at the centre of economic decision making in Europe is important and welcome 🇮🇪
— Micheál Martin (@MichealMartinTD) July 9, 2020
Minister Donohoe's term will get underway on 13th July, and will last 2.5 years.