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U.S. pledges billions of dollars of aid to Central America and Mexico

Mexico's President Andres Manuel Lopez Obrador delivers a press conference
Mexican President Andres Manuel Lopez Obrador. Photo: Alfredo Estrella/AFP via Getty Images

Two months after President Trump threatened to withhold aid from Central American countries for failing to stop a migrant caravan heading toward the U.S. border, the administration has pledged $5.8 billion worth of private and public development funding for Central America and $4.8 billion for southern Mexico, the AP reports.

Why it matters: The goal of the aid is to promote more stable security and economic conditions to encourage potential migrants to stay in their host nations instead of making the dangerous trip to the U.S. border. It's not yet clear if Mexico will provide anything in return for the billions of dollars worth of aid. The Washington Post has previously reported that Mexico and the U.S. have been working on a deal that would force all U.S. asylum-seekers to remain in Mexico until their applications are processed.