Speaking to a crowd in Oslo, Bill Gates said Norway should invest some of the $800 billion it has saved up in oil revenues in the world’s poorest countries in sub-Saharan Africa and Asia.
“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, said the Microsoft co-founder who oversees the $37 billion Bill and Melinda Gates Foundation, Reuters reports.
By saving up its surplus oil revenues, the country of five million people has amassed an enormous wealth fund expected to top $1 trillion this decade. Speaking at the same event, a Norwegian finance minister said the country would be expanding its investment strategy into developing markets but stressed that an adequate return on investment would remain the goal of the fund.
[Reuters]