US pensions investment to target North’s poorest

A $30m (€23m) New York State retirement fund investment in the North will help the worst off, it was claimed today.

Pension money from US public workers will be targeted at areas of long-term disadvantage, the North’s Deputy First Minister Martin McGuinness said.

The announcement was made at the offices of New York comptroller Thomas DiNapoli during the minister's American business trip.

Mr McGuinness said: ``The comptroller has targeted these funds to areas of long term disadvantage. This is recognition that these are areas of opportunity.

``It is also recognition that everyone must have a stake in the future and a role in developing peace.

``Coming as it does in the midst of such challenging economic times, it will be welcome news indeed for private companies who are seeking investment to provide growth potential.''

He said the €30m (€23m) was a massive vote of confidence in the North's peace process.