US President Joe Biden said on Wednesday that reaching a ceasefire agreement in Gaza was the result of several factors.

Biden, who leaves the White House on January 20, said that this agreement is not only the result of the intense pressure on Hamas, the changing regional equation after the ceasefire in Lebanon, and the weakening of Iran, but also the result of persistent and painstaking American diplomatic efforts.

Biden said in a speech from the White House that an agreement had been reached within the "exact parameters" of a plan he had laid out since late May.

"My diplomatic efforts to get this done have never stopped," he added.

In a separate statement, the White House quoted Biden as saying: “Today, after months of intensive diplomacy by the United States, along with Egypt and Qatar, Israel and Hamas have reached a ceasefire agreement (..).”

"This agreement will stop the fighting in Gaza, increase much-needed humanitarian aid to Palestinian civilians, and reunite the hostages with their families after more than 15 months in captivity," he continued.

On Wednesday, Israel and Hamas reached a ceasefire agreement in Gaza, under which Israel will release Palestinian prisoners, while Hamas will release Israeli hostages it is holding in the Strip.

Several sources reported that the agreement was reached after meetings that continued in the Qatari capital, Doha, today.

US President-elect Donald Trump also referred on Wednesday to his role in reaching the ceasefire agreement.

Trump considered that this "epic" agreement would not have happened except "as a result of our historic victory in November," referring to his victory in the presidential elections and his expected return to the White House in a few days.

He also indicated that he would work to build on and expand the scope of the Abraham Accords.

He noted that he was "excited that the American and Israeli hostages would return to their homeland to be reunited with their families and loved ones."

He continued that his national security team, through the efforts of Special Envoy to the Middle East, Steve Witkoff, will continue to work closely with Israel and allies to ensure that Gaza never again becomes a safe haven for terrorists.

"This is just the beginning of great things to happen for America and the world," Trump said.