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| $30m investment set aside for NI | $30m investment set aside for NI |
| (20 minutes later) | |
| A total of US $30m is to be made available for potential investment in Northern Ireland by the New York state retirement fund. | A total of US $30m is to be made available for potential investment in Northern Ireland by the New York state retirement fund. |
| The state comptroller Thomas DiNapoli, who controls the pension funds of public workers from New York, made the announcement on Monday. | The state comptroller Thomas DiNapoli, who controls the pension funds of public workers from New York, made the announcement on Monday. |
| He said he was impressed by NI's "highly skilled workforce". | He said he was impressed by NI's "highly skilled workforce". |
| Deputy First Minister Mr McGuinness said it was a "massive vote of confidence" in the peace process. | Deputy First Minister Mr McGuinness said it was a "massive vote of confidence" in the peace process. |
| While Mr McGuinness was in New York, First Minister Peter Robinson was holding talks with US firms which employ people in Northern Ireland. | |
| The two leaders will meet up again in Washington, where they will meet US President Barack Obama on Tuesday at a St Patrick's Day reception at the White House. | |
| Mr McGuinness said that, despite recent dissident murders, people in the US understood there was opposition to groups derailing the peace process. | Mr McGuinness said that, despite recent dissident murders, people in the US understood there was opposition to groups derailing the peace process. |
| "I have to say I am very encouraged by the outcome of our discussions," he said. | "I have to say I am very encouraged by the outcome of our discussions," he said. |
| Certainly it's not a handout - we have one million working New Yorkers who rely on the pension fund for their retirement - so we are looking for strong returns Robert WhalenNew York Comptroller's Office "We have been through a difficult week back home and it was very important to see if people were shaken by it here. | Certainly it's not a handout - we have one million working New Yorkers who rely on the pension fund for their retirement - so we are looking for strong returns Robert WhalenNew York Comptroller's Office "We have been through a difficult week back home and it was very important to see if people were shaken by it here. |
| "It is clear that they are not." | "It is clear that they are not." |
| Warning | Warning |
| However, SDLP leader Mark Durkan warned against people thinking that investment money from the United States comes free. | However, SDLP leader Mark Durkan warned against people thinking that investment money from the United States comes free. |
| He said people should remember that interest rates in repaying the US loans can be higher than the banks. | He said people should remember that interest rates in repaying the US loans can be higher than the banks. |
| "People need to understand that the Emerald Fund is pension fund money. We are talking about a serious commitment by them and they obviously have to be looking for a return," he said. | "People need to understand that the Emerald Fund is pension fund money. We are talking about a serious commitment by them and they obviously have to be looking for a return," he said. |
| Robert Whalen of the New York Comptroller's Office told BBC Radio Ulster that expected returns from the investment were "very much on a case-by-case basis". | Robert Whalen of the New York Comptroller's Office told BBC Radio Ulster that expected returns from the investment were "very much on a case-by-case basis". |
| He said they had made the "long-term" investment "because there are great opportunities in Northern Ireland". | He said they had made the "long-term" investment "because there are great opportunities in Northern Ireland". |
| "Certainly it's not a handout - we have one million working New Yorkers who rely on the pension fund for their retirement - so we are looking for strong returns," he said. | "Certainly it's not a handout - we have one million working New Yorkers who rely on the pension fund for their retirement - so we are looking for strong returns," he said. |
| "We think that we can get that, based upon the promise of opportunity that exists right now. | "We think that we can get that, based upon the promise of opportunity that exists right now. |
| "It's a difficult market globally, but we think that over time there will be very strong returns for us." | "It's a difficult market globally, but we think that over time there will be very strong returns for us." |
| He said it was too early to say whether the money would go into a number of large investments or a series of smaller ones. | He said it was too early to say whether the money would go into a number of large investments or a series of smaller ones. |
| The first and deputy first ministers, local politicians and the Taoiseach Brian Cowen, will be in Washington DC this week for a series of St Patrick's Day events hosted by President Barack Obama and Vice-President Joe Biden. | The first and deputy first ministers, local politicians and the Taoiseach Brian Cowen, will be in Washington DC this week for a series of St Patrick's Day events hosted by President Barack Obama and Vice-President Joe Biden. |