Egypt's foreign minister will visit Israel in the first such visit in almost a decade.
A probe has been opened into Prime Minister Benjamin Netanyahu, Israeli Attorney General Avichai Mandelblit revealed Sunday.
Speaking to journalists alongside Mr Netanyahu before their meeting, Foreign Minister Sameh Shoukry said it was a "crucial and challenging juncture for the Middle East".
"My visit to Israel today is a continuation of Egypt's longstanding sense of responsibility towards peace for itself and all the peoples of the region, particularly the Palestinian-Israeli peoples who have suffered for many decades due to the perpetuation of the conflict between them", he said.
Eran added that Egypt would also like to play a role in reconciling the 9-year-old internal Palestinian split between Abbas' Palestinian Authority, which controls the West Bank, and Hamas, which controls the Gaza Strip.
He called for confidence-building measures that can lead to renewed peace talks between Palestinians and Israel. Israel often praises el-Sissi for his tough stance on militants, and considers him a key ally in what it sees as a shared battled against Islamic extremists.
The move failed to pan out after Netanyahu made a decision to turn down Zionist Union's demands concerning the peace process with the Palestinians during coalition negotiations.
He went on to say that the new houses in jew settlements are answers to the Palestinian violence which has claimed 34 lives.
Elie Podeh, a professor of Middle Eastern studies at Hebrew University in Jerusalem, said that Shoukry may be trying to soften Israel's resistance to the French sponsored peace initiative.
According to a report on Channel 2, one of the reasons Netanyahu is hoping to schedule a meeting with Sissi before the end of the year is to outflank a French diplomatic move to hold an worldwide summit on the Israeli-Palestinian conflict - something Netanyahu opposes.
Gendelman, who said the visit was requested by Egyptian President Abdel Fattah al-Sisi, extended his welcome to Shoukry.
Sisi offered the 2002 Arab peace initiative as a potential way ahead.
"As was the case in previous affairs, when things that turned out to be baseless were attributed to Netanyahu, there will be nothing here as well, because there is nothing", the statement said. He said Shoukry "answered in the affirmative".
"It's something that opens the gates for engagement with the entire 54 countries of Africa, and it can also herald a change in much broader voting patterns in worldwide bodies", Netanyahu said.
Direct talks on Palestinian statehood collapsed in 2014.
He said: "The plight of the Palestinian people becomes more arduous every day, and the dream of peace and security moves further out of the Israeli people's reach as long as the conflict continues".
In April, Israel's deputy chief of staff spoke of an "unprecedented level of cooperation" with Egypt, mainly regarding intelligence. Two officials said Sunday's decision was about new monies.