WATCH: White House holds news briefing as Israel-Hamas ceasefire deal announced

President Joe Biden announced Wednesday that a Gaza ceasefire deal “has been reached” between Israel and Hamas.

Watch White House Press Secretary Karine Jean-Pierre’s briefing in the player above.

“It’s a very good afternoon because at long last, I can announce a cease fire,” Biden said in remarks from the White House. “The hostage deal has been reached between Israel and Hamas.”

Biden spoke moments after the prime minister of Qatar, Sheikh Mohammed bin Abdulrahman Al Thani, spoke in Doha, sayingthe ceasefire would go into effect on Sunday.

WATCH: Biden announces Israel-Hamas ceasefire deal

The deal, coming after weeks of painstaking negotiations in the Qatari capital, promises the release of dozens of hostages held by Hamas in phases, the release of hundreds of Palestinian prisoners in Israel and would allow hundreds of thousands of displaced people in Gaza to return to what remains of their homes.

It also would flood badly needed humanitarian aid into a devastated territory. Qatar’s prime minister said the deal would go into effect on Sunday. Israel said final details still need ironing out.

Biden said American hostages will be part of that hostage release in the first phase of the deal.

“And the vice president and I cannot wait to welcome them home,” he said.