Mexico says to receive $800Mln from US to develop southeastern regions

The US Overseas Private Investment Corporation will allocate $800 million for the economic development and jobs creation in the southeast of Mexico, the Latin American country’s Foreign Minister, Marcelo Ebrard, said, Trendreports citing Sputnik.

"We are talking about approximately $800 million. This development is very important for Mexico and it allows us to move forward," Ebrard said during a ceremony, aired live by the Foreign Ministry on Twitter on Wednesday.

During the ceremony, the US agency’s Chief Operating Officer, Ryan Brennan, signed a letter outlining the initiative.

Mexico has been experiencing an influx of Central American migrants who seek to cross into the United States. Mexico has been taking action to prevent the migrants from entering the neighbouring country.

Moreover, in June, the two states agreed on a package of measures, envisaging the suspension of the tariffs, announced by the United States, in return for Mexico curbing the migrant flows.