The ceasefire between Israel and the Palestinian group Hamas, which controls Gaza, was announced on Wednesday in the Egyptian capital, Cairo, just over a week after the latest wave of violent attacks against Israel from Gaza, and Israeli air strikes on Gaza began.
The violence claimed the lives of 139 Palestinians including 70 civilians, and wounded more than 900.
It also displaced 10,000 people in the territory, which is home to 1.7 million Palestinians.
''I commend the parties for stepping back from the brink. Our focus now must be on ensuring the ceasefire holds and that all those in need in Gaza receive the humanitarian assistance that they need,'' UN Secretary-General, Ban Ki-moon said as he briefed the Security Council via video-link from Tel Aviv.
He noted that the agreement marked a ''huge relief'' for the people of Gaza and Israel and for the international community that the violence is stopping.
''But we are all aware of the risk. And we are all aware that there are many details that must be solidified for a broad, durable ceasefire to take firm hold over the longer term".
''It is imperative that both sides stick to the ceasefire in order to allow these underlying issues to be addressed in a sustainable manner".
''My paramount concern throughout has been for the safety and well-being of all civilians, no matter where they are".
''Innocent people, including children, have been killed and injured on both sides. Families on both sides were forced to hover in fear as the violence raged around them,'' the Secretary-General said.
He said that the current crisis underscored that the status quo was unsustainable, and that long-term solutions must be found to the problems of Gaza, and for the Palestinians as a whole.
''A negotiated two-State solution ending a prolonged occupation and ending the conflict between Israel and the Palestinians is more urgent than ever".
''Achieving this vision, which has been affirmed by this Council repeatedly, is long overdue and paramount to the stability of the region. Only a just and comprehensive peace can bring lasting security to all,'' he stated.
Similarly, the UN Security Council in turn issued a statement, unanimously welcoming the agreement.
"It called on the parties to uphold the agreement and to ''act seriously to implement its provisions in good faith''.
The Council also expressed its continued support for the ongoing international efforts to consolidate the agreement.
The Council said its members ''strongly commend the efforts of Egyptian President and others to achieve the ceasefire, adding that they also expressed ''strong appreciation'' for the efforts of Ban.
It affirmed the need for the people of Israel and the Palestinian people in the Gaza Strip to live without fear.
Council members also called on the international community to ''contribute to improving the living conditions of the people in the Gaza Strip". (NAN)
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