Charity/Philanthropy

Bill Gates Urges Norway To Spend More of its $800 Billion Oil Fund in Africa and Asia

The prime minister supports the proposal

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(Reuters)—Philanthropist and Microsoft co-founder Bill Gates called on Norway's $800 billion oil fund, one of the biggest investors in the world, to spend more in the poorest countries, gaining the prime minister's support with his proposal.

Gates, who runs the $37 billion Bill and Melinda Gates Foundation, said Norway should set aside a portion of the fund to invest in infrastructure in sub-Saharan Africa and Asia, and buy equity in small enterprises that alleviate agricultural and medical problems.

"Norway is by many measures one of the richest countries in the world and you can afford to take some of that money and help out people in other places," Gates said on a visit to Oslo.