Israel has expressed satisfaction Wednesday with the Egypt and French-led initiatives for a ceasefire in Gaza.
The cabinet convened earlier to discuss the alternatives regarding the fighting, namely either expanding the ground offensive or adopting plans for a truce.
The Prime Minister's Office said following the meeting that "Israel is working to improve the security reality in its southern area and is grateful to the presidents of France and Egypt for their efforts to broker an end to the terror and weapon smuggling emanating from Gaza.
"Israel sees the dialogue between Egyptian and Israel delegates, meant to advance these issues, as positive steps."
Olmert and defense Minister Ehud Barak will send senior representatives to Egypt in order to look into President Hosni Mubarak's offer.