France and Saudi Arabia are close to signing a $3 billion arms deal for Lebanon, the Elysee Palace said late Monday following talks between President Francois Hollande and the Saudi crown prince. The deal 'is being finalised', according an aide to the president. The deal is for military equipment and arms to be supplied to Lebanon's army. Hollande told an official dinner at the Elysee presidential palace attended by Prince Salman bin Abdul Aziz, who is also the Saudi deputy prime minister and defence minister, that Lebanon was a "great but vulnerable country" which "needs security".

"We have come together, Saudi Arabia and France, to help Lebanon on the condition that it also helps itself, for its own security," Hollande added, without commenting directly on the joint contract. The deal comes as Beirut faces the threat of militants on its border with Syria. More than a million refugees have fled the war in Syria by escaping to Lebanon, according to figures from the United Nations. [Link]