Saudi Arabia's Development Fund announced on Monday signing an agreement with the UN High Commissioner for Refugees (UNHCR) to provide $3.5 million to Syrian refugees in Lebanon.
The funding will be to carry forward the implementation of the second phase on the housing project covering over 10,000 Syrian families, according to the Saudi state-owned news agency SPA.
The Fund's total contributions to UNHCR’s projects so far have amounted to $30.7 million.
This is part of the Fund's assistance to displaced Syrian refugees in Lebanon and other neighboring countries.
The agreement was signed by Vice President of the Saudi Fund for Development Eng. Yousef Bin Ibrahim Al Bassam and UNHCR's Regional Representative for the Gulf Cooperation Council (GCC) Khalid Khalifa.
The contribution comes from Saudi Arabia at a time the Syrian crisis extends its toll for the eighth year in a row, forcing more than 5.4 million Syrians to leave their homes and property as they seek safety in neighboring countries.
Increasing refugee influx has managed to strain the social and economic situation of host countries, especially Lebanon, which hosts over a million, of which almost 70 percent live in striking poverty and are in dire need of aid.