Microsoft announces $7bn in funding to finance US economy
Microsoft announced Tuesday it will invest $7.5bn to fund the US economy over the next four years.
The company said it would contribute $1bn to the Federal Reserve’s asset-backed securities program, or AIG, which is aimed at bolstering the financial system.
Microsoft CEO Satya Nadella said the funding will be used to finance the construction of the $7 trillion National Finance Center, which will provide financing for new infrastructure.
It is the first time Microsoft has made a major investment in the US since the financial crisis.
“The National Finance Centre will create jobs, build prosperity and stimulate economic growth,” Nadellas said.
“We are making a commitment to help build a new economic engine, one that will make the US more competitive, innovative and innovative.”
The US Federal Reserve is a bank that manages the nations finances.
It has been trying to revive its economy and rein in the debt and deficits.
It also has a role in economic and financial policy.
Microsoft is also one of the biggest corporate donors in the world, giving away more than $1.3bn over the past decade.