Australian Deputy Prime Minister and Treasurer Wayne Swan said on Thursday that he will replace former Prime Minister, Kevin Rudd to attend the G20 summit to be held in Canada this weekend.

Rudd stood down on Thursday as Labor leader before a ballot could be held for the leadership.

New Prime Minster Julia Gillard, who was elected to replace Rudd unopposed, said she has invited Swan to attend the meeting in Toronto.

Swan accepted the invitation and will fly out from Australia on Friday.

Gillard on Thursday has become Australia's first woman, as well as the 27th Prime Minister in Australia.