Bill Clinton and city officials announced yesterday that $1 billion in teacher pension funds will be used to finance building projects in the wake of Hurricane Sandy.

The investment by the $46 billion Teachers Retirement System marks the first time that one of the city’s pension funds has financed infrastructure, Comptroller John Liu said.

The comptroller joined the former president and the head of the teachers union to discuss the deal at the Clinton Global Initiative office in Harlem.

Liu said he expects the new investment will show positive returns in interest for the up-front financing, but wouldn’t guess at a specific figure.