The aid transfer was signed yesterday by the US ambassador, James Nealon, and Honduran President Juan Orlando Hernandez, with the latter saying: "Our goal is to attack the root of the problem of irregular migration" to the United States.
The money comes from a USD 750 million Alliance for Prosperity Plan authorised by former US president Barack Obama.
The money is meant to improve living conditions, economic prospects and security in Honduras, Guatemala and El Salvador.
Every year, between 80,000 and 100,000 Hondurans trek north in an attempt to get into the United States, according to estimates by humanitarian groups.
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About a million of their compatriots live in the US, most of them without legal residency papers.
The new US president, Donald Trump, has promised to reduce the number of undocumented migrants in the United States and to deport many of them back to their home countries.
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