A series of posts on X from Mikati described the proposal as a "fundamental step towards restoring calm and stability in Lebanon and enabling displaced persons to return to their towns and cities".

He thanked the US and France for their involvement, and reiterated his government's commitment to "strengthen the army's presence in the south".

Mikati said: "While I value the joint efforts of the United States and France in reaching this understanding, I reaffirm the government's commitment to implementing UN Security Council Resolution 1701, enhancing the presence of the Lebanese Army in the South, and cooperating with the United Nations Interim Force in Lebanon (UNIFIL)."

President of the EU Commission, Ursula von der Leyen, has described the Israel-Hezbollah ceasefire to come into effect on Wednesday as "very encouraging news".

She said the news was encouraging "first and foremost for the Lebanese and Israeli people affected by the fighting".

"Lebanon will have an opportunity to increase internal security and stability thanks to Hezbollah's reduced influence," she posted on X.

The UK's Prime Minister, Keir Starmer, has welcomed the announcement of a ceasefire between Israel and Hezbollah, calling for the deal to be turned into "a lasting political solution".

Starmer in a statement said: "Today's long overdue ceasefire between Israel and Lebanese Hezbollah will provide some measure of relief to the civilian populations of Lebanon and northern Israel, who have suffered unimaginable consequences during the last few months of devastating conflict and bloodshed."

The Prime Minister further added that now this deal must be turned into a lasting political solution in Lebanon, based on Security Council Resolution 1701, that will allow civilians to return permanently to their homes and for communities on both sides of the border to rebuild.

He said the UK and its allies will continue to be at the "forefront of efforts to break the ongoing cycle of violence" to achieve a "long-term, sustainable" peace in the Middle East, adding: "We must see immediate progress towards a ceasefire deal in Gaza, the release of all hostages and the removal of restrictions on desperately needed humanitarian aid."

Israel's President, Issac Herzog, has thanked Joe Biden and his administration for its "unwavering" support of Israel and for "tirelessly working" to reach a ceasefire agreement in Lebanon.

Herzog wrote on X: "The Israeli security cabinet's decision to approve the deal is "correct and important," adding that "it must be clear the state of Israel will defend its citizens, any place, anyway."

French President Emmanuel Macron said that a ceasefire deal agreed between Israel and Lebanon should "open the path" for an ending of the war in Gaza.

"This agreement should open the path for a ceasefire too long awaited with regards to the incomparable suffering of the population in Gaza," Macron said in a video posted on X.

He added that it "shows that only political courage can provide everyone in the Middle East long-term peace and stability".

UN Secretary-General Antonio Guterres also welcomed the ceasefire between Israel and Lebanon.

In a statement issued through his spokesperson, Stephane Dujarric, Guterres said "he hopes that this agreement can put an end to the violence, destruction, and suffering the people of both countries have been experiencing".

Separately, the UN special coordinator for Lebanon, Jeanine Hennis-Plasschaert, called the agreement a pivotal moment to restore safety and security for civilians on both sides of the Blue Line.

"This agreement marks the starting point of a critical process, anchored in the full implementation of resolution 1701 (2006)," she said in a statement.

The Security Council resolution, adopted in the aftermath of the 2006 conflict between Israel and Hezbollah, calls for a cessation of hostilities as well as respect for the "Blue Line" of separation between Israeli and Lebanese armed forces.

Hennis-Plasschaert stressed that selective adherence to the resolution would no longer suffice.

The 60-day ceasefire between Israel and Hezbollah will go into effect at 4 a.m. local time on Wednesday.

The US is expected to be a key security guarantor of the deal. American troops will not be committed to the Israel-Lebanon border but the US, France, and its allies will provide the "necessary assistance" to ensure the deal is implemented "fully and effectively," President Joe Biden said.

Under the deal's terms, Israel will withdraw entirely from southern Lebanon, while Hezbollah will move its heavy weaponry north of the Litani River, about 16 miles (25km) north of the border. During a 60-day transition phase, the Lebanese army will deploy to the buffer border zone alongside the existing UN peacekeeping force. Longstanding border disputes will be discussed after the 60-day withdrawal period.

Importantly for Israel, Hezbollah dropped its demand that a ceasefire in Lebanon was contingent on ending the fighting in Gaza. The Israel-Hezbollah deal will not have any direct effect on the fighting in Gaza, where US efforts to broker a ceasefire between Israel and Hamas have not led to a deal.

"Just as the Lebanese people deserve a future of security and prosperity, so do the people of Gaza," Biden said during his address on Tuesday.

Asked if he would be able to achieve a ceasefire in Gaza before leaving office, Biden crossed his fingers and replied: "I think so. I hope so. I'm praying."