Mexico is among a number of countries considering withdrawing from the 2025 World Exposition in Osaka, with the Latin American nation citing potential difficulties in securing the necessary funds, a source familiar with the matter said Friday.

The latest development comes as the building of pavilions by overseas participants has been slower than anticipated amid rising construction costs, casting a shadow over the global event in western Japan.

Mexico is scheduled to hold a presidential election in June that could jeopardize funding for its participation in the event, the source said.

Mexico had been planning to erect a self-built Type A pavilion and Japan is expected to explore the possibility of Mexican participation in another form, the source said.

Other types of pavilions are being built by the event organizer, with rental options for individual and multiple countries.

While the cost of security is usually covered largely by ticket revenue, the Japanese government will shoulder that cost, estimated at around 19.9 billion yen ($131 million), according to the source.

Earlier this month, the central government approved the projected 235 billion yen cost for constructing the venue, nearly double the organizer's initial estimate. The cost will be split among the three parties -- the central government, the Osaka prefectural and city governments, and the business community.

So far, around 150 countries and regions have confirmed their participation in the World Expo, which will run from April 13 to Oct. 13, 2025, on Yumeshima, a man-made island in Osaka Bay, according to Japan's Foreign Ministry.

Related coverage:

Support for Japan PM Kishida Cabinet at record-low 28%, tax cut not hailed

Japan OKs Osaka expo construction budget of up to 235 bil. yen

Few commercial flying taxis likely to be ready for 2025 World Expo