A memorandum of understanding to this effect was signed by Yousef Al-Bassam of the Saudi Fund for Development and Imran Riza, UNHCR's regional representative in Riyadh.
The contribution will enable the UNHCR to provide temporary and permanent shelters for around 75,000 displaced people.
After signing the agreement, Riza highlighted the importance of such assistance in terms of value, timing and significance in improving the living conditions of many of displaced people in Rakhine state.
On behalf of High Commissioner Antonio Guterres, Riza expressed his highest appreciation and deep gratitude to Custodian of the Two Holy Mosques King Abdullah, for this generous contribution which clearly reflects the Saudi leadership's response to humanitarian crises.
The partnership with the Saudi Find for Development involves collaboration with Pakistan in terms of providing permanent shelters to the displaced people.
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