The announcement was made at Rīga Castle just after 1 p.m. local time.
Bordāns now has the task of drawing up a viable coalition and work plan for the next four years. He told reporters talks on doing so would start immediately.
Vējonis pointed out that Bordāns has until November 21st to hammer together a coalition. If he fails to do so, another candidate will be nominated. He also demanded that he be consulted on who will be appointed to key positions including minister of defense and minister of foreign affairs.
As previously reported, the New Conservative Party won 16 seats in the 100 seat Saeima during elections on October 6 and the weeks since then have seen lengthy talks between various political parties with Bordāns, plus Aldis Gobzems of KPV LV and Artis Pabriks of For Development/For! emerging as the three prime candidates to lead a new coalition.
Both four-party and five-party coalition models have been floated in the past, but all exclude the largest party in Saeima, Harmony, which seems doomed to another period in opposition. There are seven parties in parliament in total.
Bordāns said he envisaged a five party coalition comprising the New Conservatives, KPV LV, For Development/For!, the National Alliance and New Unity, leaving the Green and Farmers' Union and Harmony in opposition.
"A smaller government would not be in Latvia's interests," he said.
A new coalition model will need to be approved by a parliamentary vote.