New York/London - New York City committed Friday to investing 150 million dollars of police, firefighter and teacher retirement funds in Northern Ireland, marking the 10th anniversary of the power-sharing peace accords. The gesture was announced by York City Comptroller William Thompson Jr, who noted that the Good Friday accord between warring Protestant and Catholic parties had ended three decades of strife and opened the way out of economic straits.
Northern Ireland's First Minister Ian Paisley and his deputy, Martin McGuinness, were present for the announcement.
The money will be channelled through a wider investment fund, to be known as the Emerald Fund, whose headquarters will be in Belfast, the capital of Northern Ireland.
"The decision follows the pension funds longstanding, 20-year commitment to promoting peace and equality of opportunity for all in Northern Ireland," Thompson said. "This is an historic next step for us."
The investment was described as the largest ever public investment from the US in Northern Ireland.
Thompson said New York City was "optimistic" about "strong returns" from the "expanding Northern Ireland economy."
"We will continue to prudently assess other investment opportunities created by the dawn of this new era of peace in Northern Ireland," he said in a press statement.
City employee retirement funds will also be invested, in addition to those of police, firefighters and teachers.
Thompson said he expected other US pension funds will follow suit and help "improve the economic condition of those who have been disadvantaged by patterns of historic exclusion and by nearly 30 years of civil strife."
