Olmert said that Israel was examining the proposal. "We are studying the proposal," Olmert said of the Lebanese offer, adding that the Israel also wants an early withdrawal from south Lebanon.

"The faster we leave south Lebanon, the happier we will be, especially if we have achieved our goals," said Olmert. But he also stressed that the Lebanese deployment must go hand-in-hand with the disarmament of Hezbollah.

The Lebanese cabinet agreed on Monday night to deploy troops in the south after an Israeli army's withdrawal from the area, in a decision supported by all the ministers present, including the five Shiite ministers who represent Hezbollah and Amal.

Lebanon also decided on Monday that it would call up about 15,000 reserve soldiers as reinforcement for the regular army. The reservists will be mobilized in the coming days.

On Saturday, a draft UN Security Council resolution agreed upon by France and the United States on Saturday calls for "full cessation of hostilities" between Israel and Hezbollah, which have been involved in a bloody conflict since July 12.

The draft is still being debated, as most Arab countries have registered objections because the draft does not call for an immediate withdrawal of Israeli troops from south Lebanon.

On Monday, the Foreign ministers from over 20 Arab countries and Arab League Secretary General Amr Moussa held an emergency meeting in Beirut. The meeting, focused on efforts toward a ceasefire, decided to send a delegation, including the chief of Arab League and the Qatari and UAE foreign ministers, to New York late Monday in a bid to modify the draft.

However, Israel has said that its troops would only leave once a multinational force has been deployed.