Opposition parties in Israel have finalised an agreement to form a new government to unseat Prime Minister Benjamin Netanyahu, who has occupied the top post for 12 years, the BBC reported on Wednesday.

The proposed new government will be a coalition of eight parties spanning the political spectrum of Israel, said Yair Lapid, the leader of the centrist outfit Yesh Atid.

The constituent parties are Yesh Atid, right-wing faction Yamina, led by Netanyahu’s former ally Naftali Bennett, centrist party Kahol Lavan, the social-democratic Labor party, centre-right to right-wing party New Hope, the left-wing, social-democratic Meretz, centre-right to right-wing nationalist party Israel Beiteinu and the Arab Islamic party Raam, according to the BBC.

The coalition has reached a rotational agreement, under which Bennett would be the prime minister till August 2023, after which Lapid will take over.

The proposed new government will have to face a parliamentary vote before it is sworn in. If it fails to win majority support in the 120-member House, Israel may have to hold its fifth election in two years. Israeli President President Reuven Rivlin has called for the trust vote to be held as soon as possible.

Lapid said the coalition government will work for all Israeli citizens, whether or not they vote for it, Reuters reported. “It will respect its opponents and do all it can to unites and connect all parts of Israeli society,” Lapid added.

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Benny Ganz, Israel’s Defence Minister and the leader of Kahol Lavan, said: “This is a night of great hope.” Ganz will continue to hold his post under the coalition government.

Last week, Netanyahu had criticised the coalition, claiming that it was a threat to the security of Israel and urged politicians not to join it.

The Israeli premier has been embroiled in a controversy over corruption allegations. In, 2019 he had been formally charged with with bribery, fraud and breach of trust in separate cases. He was accused of dispensing favours and accepting gifts from wealthy business people and attempting to get more positive media coverage. Netanyahu has repeatedly rejected the accusations and called it part of a witch-hunt against him.