World Bank chief contrasts Microsoft deal with poor countries' debt

The World Bank criticised rich nation's investment goals, questioning if Microsoft's billion dollar acquisition of a game studio couldn't have been better spent on developing nations. — AFP

After Microsoft announced it would spend tens of billions of dollars to buy a video game company, World Bank President David Malpass on Wednesday drew a contrast between the deal and the amount of money rich nations have pledged to help poor countries facing higher debt loads.

"I was struck this morning by the Microsoft investment – US$75bil (RM314bil) in a video gaming company" compared to just US$24bil (RM100.48bil) over three years in aid for the poorest countries, Malpass said, referring to donations allocated in December by 48 high- and middle-income governments.