WHILE presenting a paper before the G20 leaders, the IT czar Bill Gates called for a global pact on investment, aid to the poor nations and innovative taxes to steer the recession-hit global economy out of the crisis.

Mr Gates said that ensuring that oil and mining companies listed on stock exchanges were more transparent about their dealings in developing countries and taxes on financial transactions, aviation and shipping, fuels and tobacco could help in giving birth to new development resources and also help countries to meet the aid promises made by them.

He further emphasised that extending a helping hand to poorer nations is all the more important now to handle the probable recession that is staring the world in the face. Invited by the French president, Mr. Nicolas Sarkozy, Mr. Gates presented a report on anti poverty measures to the G 20 leaders that laid emphasis on the need to seek new innovations to improve the condition of the poor and to avoid cutting back on aid as it would cause irreparable damage to global stability, to the growth of the global economy and to livelihoods of millions of poor people.