Barack Obama is set to meet his election rival John McCain in Chicago as part of the US President- elect's efforts to reach out and work together to ensure a "more efficient and effective" government in the face of the "worst economic challenge" confronting the nation.
"It's well known that they share an important belief that Americans want and deserve a more effective and efficient government, and will discuss ways to work together to make that a reality," said Obama transition spokeswoman Stephanie Cutter.
The meeting is scheduled to take place in Chicago at the transition headquarters of Obama.
US Senator Lindsey Graham, a McCain ally, and Congressman Rahm Emanuel, Obama's choice for White House chief of staff, will join the meeting.
Obama and McCain spoke on phone on the election night of November 4 after Obama won the landmark presidential polls, but have not met in person since the Al Smith dinner -- a charity fundraiser -- in New York on October 16.
McCain in his second radio address yesterday has indicated that his first priority would be to address the economic crisis facing the nation.
"Make no mistake: this is the greatest economic challenge of our time. And while the road ahead will be long, and the work will be hard, I know that we can steer ourselves out of this crisis -- because here in America we always rise to the moment, no matter how hard," he said and voiced confidence that the American economy would be revived soon.
McCain, in his concession speech, viewed as "gracious" by many, had spoken warmly about the African-American Democrat, saying "his success alone commands my respect for his ability and perseverance."