Israel said Thursday that the final draft of the first phase of a Gaza ceasefire and hostage release deal between Israel and Hamas had been signed by all parties in Egypt.

“The final draft of phase one was signed this morning in Egypt by all parties to release all the hostages,” Israeli government spokeswoman Shosh Bedrosian told journalists.

“Now phase one stands very clear: all of our hostages, the living and the deceased, will be released 72 hours later, which will bring us to Monday,” she said.

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Bedrosian said the ceasefire will take effect “within 24 hours” from a meeting of Israel’s security cabinet scheduled for Thursday at 1400 GMT, in which the plan is expected to be approved.

“The IDF will then redeploy to the yellow line as shown on maps which have been widely distributed at this point in time and now after this 24 hour period the 72 hour time window will then begin where all of our hostages will be released back into Israel,” she said.

The security cabinet meeting will be followed by a full government meeting at 1500 GMT.