From 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.

Norway is working on a complete review of the fund, including its investment strategy. Critics say it has become too big and needs to diversify away from stocks, bonds and real estate, and may even need to be broken up into specialized vehicles.

Writing by Balazs Koranyi | Read more at Reuters