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US funding for NI 'unprecedented' | US funding for NI 'unprecedented' |
(about 9 hours later) | |
Northern Ireland's first and deputy first ministers have gone to New York to hear an announcement of major US investment. | Northern Ireland's first and deputy first ministers have gone to New York to hear an announcement of major US investment. |
Ian Paisley and Martin McGuinness are due to meet New York City Comptroller William Thompson. | Ian Paisley and Martin McGuinness are due to meet New York City Comptroller William Thompson. |
His office has described the investment as "unprecedented" and "the largest ever US public investment in NI". | His office has described the investment as "unprecedented" and "the largest ever US public investment in NI". |
The details are still under wraps, but it is thought the New York authorities are prepared to offer more than $100m. | The details are still under wraps, but it is thought the New York authorities are prepared to offer more than $100m. |
The money will be channelled through a wider investment fund, to be known as the Emerald Fund, whose headquarters will be in Belfast. | The money will be channelled through a wider investment fund, to be known as the Emerald Fund, whose headquarters will be in Belfast. |
The move is a boost for the executive's investment conference which is due to take place next month. | The move is a boost for the executive's investment conference which is due to take place next month. |
BBC Northern Ireland political editor Mark Devenport said the expected announcement showed how far the political process had come. | |
"In the past, New York city was in the forefront of the MacBride principles campaign, which promoted a code of conduct for US businesses operating in Northern Ireland," he said. | "In the past, New York city was in the forefront of the MacBride principles campaign, which promoted a code of conduct for US businesses operating in Northern Ireland," he said. |
"The principles' supporters argued they were a necessary counter to discrimination, but unionists regarded them as an obstacle to investment." | "The principles' supporters argued they were a necessary counter to discrimination, but unionists regarded them as an obstacle to investment." |