Israeli officials confirmed to several local media channels that Egypt has placed a new proposal for a truce in Gaza and the release of more hostages, Times of Israel reports.

According to the Saudi news site Asharq, which quoted a source who participated in the talks between Egypt and Hamas in Cairo last week, the Egyptian initiative is a plan to end hostilities and release all the remaining hostages, in three stages.

The first stage of the Egyptian plan would be a two-week halt to the fighting, extendable to three or four, in exchange for the release of 40 hostages — women, minors, and elderly men, especially sick ones, Time of Israel reports.

In return, Israel would release 120 Palestinian security prisoners of the same categories. During this time, hostilities would stop, Israeli tanks would withdraw, and humanitarian aid would enter Gaza.

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