As part of its coronavirus response package, Google is offering $340 million in Ads credits to small and medium-sized businesses that have active accounts with them.
Sundar Pichai, the chief executive officer of Alphabet Inc. and its subsidiary Google LLC, said in a blog post that the company has put up a huge amount for relief package in response to the coronavirus’ devastating toll on lives and communities.
“To help address some of these challenges, today we’re announcing a new $800+ million commitment to support small- and medium-sized businesses (SMBs), health organizations and governments, and health workers on the frontline of this global pandemic,” he said on March 27.
Aside from the ad credits, the tech giant will allot $250 million in advertising grants to aid the World Health Organization and the governments in their information drives to stop the spread of the Coronavirus-Disease 2019 (COVID-19).
A total of $200 million be set aside for an investment fund to “support NGOs and financial institutions around the world to help provide small businesses with access to capital.”
Google Cloud credits worth $20 million will be allocated for academic institutions and researchers who are developing potential vaccines and treatments for the infection.
The company has also committed financial support to increase the production capacity of personal protective equipment such as face masks and ventilators.
Pichai said that workers from across Alphabet 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.”
He also shared that the annual gift match that the company offers to every employee has increased from $7,500 to 10,000.
Google joins the list of the tech giants, including Apple, Facebook and Salesforce, that have funded relief efforts for the economic disparity caused by the global pandemic.