"It's actually not that hard to save these babies," Gates said in an interview at the United Nations headquarters in Geneva.
The co-chair of the powerful Bill & Melinda Gates Foundation was in town to urge health ministers and officials from around the world to back an action plan calling for simple practices to make deliveries and the critical period after birth safer.
Simply encouraging women to begin breastfeeding immediately after delivery is important, since it ensures babies receive the nutrients and liquids they need and protects against infections, she said.
In addition to such techniques, which besides the cost of training health personnel are free, Gates said cleaning a baby's umbilical cord with a basic antiseptic costing just a few cents was vital for stopping infection.
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Bag masks, costing USD 5.00 a piece, should also be on hand to resuscitate babies who are not breathing, she said.
"This is not about saying to the world that we need new funds. It's saying: take this system that we have today and make sure we focus it on these key, inexpensive interventions," she insisted.
That, Gates said, was because countries around the globe had jointly focused on driving down the numbers through vaccines and fighting killers like malaria.
"But the glaring place where we have not made progress is in newborn deaths," the 49-year-old mother of three told AFP, pointing out that 2.9 million babies die each year within their first month of life, while one million die on their first day.