Bill Gates gives Davos forum a burst of optimism

Davos: Microsoft chairman Bill Gates said he is donating $306 million to help millions of poor African farmers.

Gate's burst of optimism encouraged business and government leaders at the World Economic Forum on Friday to consider the positive things they can do.

The Bill & Melinda Gates Foundation, which has concentrated on improving health in poor parts of the world, has decided it is time to improve agriculture, Gates said.

"Why do we think agriculture is so important?" said Gates. "Of the billion people who live on less than $1 a day, three-quarters are small farmers."

But despite the optimism, the economic turbulence still lingered over the World Economic Forum's annual meeting.

Indian Finance Minister Palaniappan Chidambaram said that the threat of a global slowdown would hurt his country, one of Asia's biggest economies.

A "slowdown is a precursor to a recession and I think that is worrying," he said. "It is especially worrying to developing countries like India."