Residents in Gaza can look forward to at least three days of peace, after Israel and Hamas agreed to a 72-hour humanitarian ceasefire that begins Friday at 8 a.m.

The United States and United Nations announced this major development in a joint statement, saying both sides in the conflict have given assurances that they will send representatives to negotiate on a longer-term truce.

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The statement was released in Delhi, where U.S. State Secretary John Kerry was meeting Indian officials Thursday.

The statement also said Israeli and Palestinian representatives will immediately be going to Cairo for negotiations with the Egyptian government aimed at "reaching a durable ceasefire." The parties will be able to "raise all issues of concern" during these negotiations, the statement added.

The joint announcement also contained assurances for the people in Gaza, who will receive "urgently needed humanitarian relief, and the opportunity to carry out vital functions, including burying the dead, taking care of the injured, and restocking food supplies."

Hamas spokesman Sami Abu Zuhri told Reuters following the US-UN statement that all resistance factions in Palestine will abide by the 72-hour ceasefire, "as long as the other side abides by it."

The three-week conflict have resulted to 1,427 Palestinians killed and close to 7,000 wounded, most of them civilians. On the Israeli side, 56 soldiers have been killed and about 400 wounded. Three civilians have died due to Hamas rocket attacks in Israel.

The UN says close to 450,000 Palestinians have been misplaced by the fighting. More than 220,000 are currently seeking shelter inside UN facilities in the enclave.

The war has also killed eight employees working for the UN.

TagsPalestine, Gaza, Israel, Hamas