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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 correspondent Mark Devenport said the expected announcement showed how far the political process had come. 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."