Israel and Lebanon have reached "an historic agreement" on their maritime border, Israeli Prime Minister Yair Lapid said on Tuesday.

"This is an historic achievement that will strengthen Israel's security, inject billions into Israel's economy, and ensure the stability of our northern border," Lapid said.

The deal will be brought before his security cabinet and government on Wednesday for their approval before it is reviewed by parliament, Lapid said in a statement.

The final version of the draft Israel-Lebanon maritime border agreement satisfies Lebanon, meets its demands and preserves its rights to its natural wealth, the information office of the Lebanese Presidency said in a statement on Tuesday.

(With input from Reuters)

(Cover: Israeli Foreign Minister Yair Lapid speaks during a press conference in Casablanca, Morocco, August 12, 2021. /Xinhua)