"The United States is committing $5.8 billion through public and private investment to promote institutional reforms and development in the Northern Triangle," the release said.
Meanwhile, the Millennium Challenge Corporation, an independent US foreign aid agency created by Congress, is providing $320 million in funds for infrastructure, education and governance projects, the release said.
The State Department and US Agency for International Development (USAID) for their part have already allocated at least $1.8 billion in funds for fiscal years 2015-2018 and have requested another $180 million for fiscal year 2019, the release said.
A High-Level Task Force will be appointed in 2019 in order to intensify cooperation between the US, Mexico and other Central American governments in order to "lead our efforts and produce result," the release added.
Since October, thousands of migrants from Honduras, Guatemala, and El Salvador, have arrived at the US-Mexico border, with many of them seeking asylum in the United States.