Google to provide $800 million for SMBs and Crisis Response
Google has announced a new USD 800 million commitment to support small- and medium-sized businesses, health organizations, government agencies, and frontline health workers.
The allocation of the $800 million commitment is as follows:
USD 250 million will be provided to the World Health Organization and 100+ government agencies worldwide as ad grants to provide information on COVID-19 prevention and other measures for the local communities. Additionally, Google will also be providing USD 20 million in ad grants for community financial institutions and NGOs to run public service announcements on relief funds.
Google will be putting up USD 200 million as an investment fund for NGOs and financial institutions worldwide to provide small businesses access to capital.
USD 340 million will be given to all SMBs with active accounts over the past year as Google Ads Credits. The ad credits can be used until the end of 2020 across all Google advertising platforms.
Academic institutions and researchers will be given USD 20 million in Google Cloud credits to use their compute power and infrastructure to further the COVID-19 research.
Google, with its partner Magid Glove and Safety, will be ramping up the production capacity for personal protective equipment (PPEs). Companies under Alphabet Inc, including Google, Verily, and X will be bringing engineering, supply chain, and healthcare expertise to equipment manufacturers distributors, and the government.
Lastly, Google will be increasing the gift match offered to its employees to USD 10,000, meaning that their employees can now give up to USD 20,000 to organizations in their communities.