German Chancellor Friedrich Merz announced on Friday that his country is seeking to organize an international conference in cooperation with Egypt to rebuild the devastated Gaza Strip, coinciding with the announcement of an agreement between Israel and Hamas to cease hostilities in the area.

Merz explained in a statement that the main goal of the conference “should be to meet the most urgent needs, such as rebuilding water and energy supplies and medical services.”

The office of Israeli Prime Minister Benjamin Netanyahu announced on Friday that the government “approved a framework” for a hostage exchange agreement with Hamas. Merz said the agreement must “be implemented quickly,” stressing that “hostages, including Germans, must finally return to their families,” adding that “humanitarian aid must reach the people of Gaza swiftly.”