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McGuinness welcomes $150 million Investment

11 April, 2008

Sinn Féin deputy First Minister Martin McGuinness MP MLA and First Minister Ian Paisley MP MLA were in New York today to participate in the announcement of the largest ever US public investment in the North of Ireland.

The investment was announced by William C. Thompson Jr. Comptroller of the City of New York who is Chief Investment Advisor of the New York City Pension Funds which currently hold assets of $110billion.

The Comptroller announced that trustees of the fund were committing $150million to the Emerald Investment Development Fund LP, a private equity fund that will total some $750million and will target infrastructure investment projects.

Speaking at the announcement, which was held in the City Council Offices in Manhatten, Mr McGuinness said:

"In June last year myself, the Finance Minister Peter Robinson MP, MLA and a number of my Executive colleagues met with the Comptrollers office and I am delighted that today we have seen the fruits of this engagement.

"This investment comes from the pension funds of ordinary people many of whom are represented here today such as firefighters, police officers, teachers and government employees. It is in effect the ordinary people of the US investing in the future of the ordinary people of the North of Ireland.

"The objectives of our US: NI Investment Conference in May will be best delivered by those investors who prioritise such sustainable economic investment in partnership with sustainable social investment." ENDS

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