The CEO of Google and Alphabet, Sundar Pichai, has announced a new $800 million commitment to support small and medium-sized businesses (SMBs), health organisations and governments, and health workers “on the frontline of coronavirus”.
Mr Pichai made this known in a statement published on Google’s blog on Friday.
According to him, the commitment is necessitated as the coronavirus outbreak continues to worsen around the world.
He said the pandemic is taking a devastating toll on lives and communities.
The Google boss said the commitment includes, “$250 million in ad grants to help the World Health Organisation (WHO) and more than 100 government agencies globally provide critical information on how to prevent the spread of COVID-19 and other measures to help local communities.
“This is an increase from our initial $25 million announced last month. In addition, we’re providing $20 million in ad grants to community financial institutions and NGOs specifically to run public service announcements on relief funds and other resources for SMBs.
“A $200 million investment fund that will support NGOs and financial institutions around the world to help provide small businesses with access to capital.
“As one example, we’re working with the Opportunity Finance Network in the U.S. to help fill gaps in financing for people and communities underserved by mainstream financial institutions. This is in addition to the $15 million in cash grants Google.org is already providing to nonprofits to help bridge these gaps for SMBs,” he added.
Mr Pichai also said that “$340 million in Google Ads credits available to all SMBs with active accounts over the past year. Credit notifications will appear in their Google Ads accounts and can be used at any point until the end of 2020 across our advertising platforms. We hope it will help to alleviate some of the cost of staying in touch with their customers.
“A pool of $20 million in Google Cloud credits for academic institutions and researchers to leverage our computing capabilities and infrastructure as they study potential therapies and vaccines, track critical data, and identify new ways to combat COVID-19. Learn how to apply for credits on the Google for Education site.
“Direct financial support and expertise to help increase the production capacity for personal protective equipment (PPE) and lifesaving medical devices. We’re working with our longtime supplier and partner Magid Glove & Safety, with the goal of ramping up production of 2-3 million face masks in the coming weeks that will be provided to the CDC Foundation.
“Additionally, employees from across Alphabet, including Google, Verily and X, are bringing engineering, supply chain and healthcare expertise to facilitate increased production of ventilators, working with equipment manufacturers, distributors and the government in this effort.”
In addition to these commitments, the CEO increased the gift match Google offers every employee annually to $10,000 from $7,500.
Source: Premium times newspaper
