The Israeli cabinet on Friday approved a ceasefire deal with Hamas which includes the exchange of hostages between the two parties.

The agreement was “green-lighted” after an unexpected delay caused concerns that the deal might fall through due to last-minute differences between the negotiating teams of Hamas and Israel.

The hard-line right-wing partners of Israeli Prime Minister Benjamin Netanyahu had threatened to derail the efforts to end month-long talks to end the bloody conflict.

The deal is expected to be submitted for final ratification to the Israeli Parliament Plenum on Sunday, January 19th when the first exchange of Israeli hostages with release of Hamas prisoners will take place.

Netanyahu’s official account on X (formerly Twitter) released the following statement: “Following an evaluation of all diplomatic, security, and humanitarian aspects, and while understanding that the proposed deal supports the achievement of the objectives of the war, the Security Cabinet has recommended that the Government approve the proposed framework.”

According to statements by U.S. President Joe Biden, the first phase of the agreement includes an “absolute ceasefire,” the release of 33 hostages, including women, children, and the elderly, the withdrawal of Israeli military units from densely populated areas of Gaza, and an increase in humanitarian aid entering the Palestinian enclave.

In the second phase, the remaining hostages will be released, and there will be a complete Israeli withdrawal from the Gaza Strip. The third and final phase will focus on the reconstruction of Gaza and will allow for the return of the bodies of hostages who were killed while in captivity.

Meanwhile, the European Commission announced that a new EU humanitarian aid package is set to be provided to Gaza.

“Today, we are also approving a €120 million package for Gaza to address the ongoing humanitarian crisis there,” EU spokesperson Eva Hrncirova told reporters.

The package will include food aid, healthcare, and shelter, as well as support to enable access to clean water, the Commission added in its statement.