Israel said it is considering a US-led ceasefire proposal that would see a 21-day pause in fighting in Lebanon, as fears rise of a fully-fledged war between Israel and Hezbollah that risks escalating into a wider regional conflict.

While top US officials initially suggested the proposal was a done deal, Israeli Prime Minister Benjamin Netanyahu later threw cold water on the plan, saying any reports of an imminent ceasefire were “incorrect.”

Netanyahu’s office clarified in a statement that it is discussing the ceasefire proposal and “shares the aims of the US-led initiative of enabling people along our northern border to return safely and securely to their homes.”

Meanwhile, Lebanon’s foreign minister warned the crisis in the country “threatens the entire Middle East” and reiterated calls for an immediate ceasefire “on all fronts.”

Here’s what we know about the ceasefire initiative:

• Proposed by US and allies: The proposal comes amid deadly fighting between Israel and Hezbollah that many fear could spill into a wider conflict. Hoping to prevent such an outcome, diplomats and leaders in New York for the United Nations General Assembly hurriedly worked to secure a plan that would pause the fighting and allow room for diplomacy to take hold.

• Which countries were involved?: President Joe Biden said the plan had been endorsed by the United States, Australia, Canada, the European Union, France, Germany, Italy, Japan, Saudi Arabia, the United Arab Emirates and Qatar.

• Has Hezbollah agreed?: Hezbollah has not yet commented on the proposed deal, and Lebanese caretaker Prime Minister Najib Mikati has denied reports of signing the framework for Lebanon. Media reports claimed earlier that Mikati signed a ceasefire proposal after meeting US Secretary of State Antony Blinken and envoy Amos Hochstein on the sidelines of the UN General Assembly.

• Fighting continues: Netanyahu, who is expected to speak Friday at the UN General Assembly, said Israel’s military will continue fighting Hezbollah with “full force” after days of strikes on Lebanon that have killed hundreds and which Lebanon’s health minister said have displaced up to half a million people.