The U.S.-backed proposal for a 60-day ceasefire between Israel and Hamas envisages a phased release of hostages, Israeli troop withdrawals from parts of Gaza and discussions on ending the conflict, an official familiar with the negotiations said on Wednesday.

Israel has accepted the latest Gaza ceasefire and hostage release proposal, according to an Israeli official, who said Wednesday the updated framework provides stronger US assurances about ending the war.

The U.S. President said Israel “agreed to the necessary conditions to finalize” a 60-day ceasefire, “during which time we will work with all parties to end the war.”