Gates Foundation fear an economic recession this year, will invest 3.8 billion

January 27 news published Monday an open letter, Bill Gates described the economic situation and its Foundation to improve global education and health care issues efforts.
According to foreign media reports, Gates said the current crisis "is temporary and will eventually be the last." But he expects "the impact of the current crisis will last even longer." Also impacted by the economic recession of the Bill and Melinda cover Mainz Foundation last year, has shrunk by one fifth of its assets. The Foundation also plans to investment in 2009 from 2008's 3.3 billion U.S. dollars to 3.8 billion U.S. dollars, accounting for 7 percent of total assets.
Gates said that the global economic downturn and the market crisis is forcing all companies to review their plans carefully, businesses and consumers cut spending. Lasted for 50 years of credit expansion has been converted to a credit squeeze.
Gates on the Obama government to honor commitments to investment in education, praised the government needs to take short-term incentives. Gates said, "I hope that the United States and other developed countries continue to increase foreign aid."