Google is donating $800 million to help with coronavirus crisis
Google announced in a blog post on March 27 that it will be offering $340 million in Google Ads credits to small businesses that have an account with them.
“As the coronavirus outbreak continues to worsen around the world, it’s taking a devastating toll on lives and communities,” Google CEO Sundar Pichai wrote in a blog post.
The $340 million is part of an $800 million package that it put together to help support small- and medium-sized businesses, health organizations and governments, as well as health workers on the frontline of the coronavirus pandemic.
In addition to the $340 million in Google Ads credits for small businesses, $250 million in ad grants will be put toward helping the World Health Organization and more than 100 global government agencies spread critical information about COVID-19.
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Google will also put $200 million into an investment fund that will “support NGOs and financial institutions around the world to help provide small businesses with access to capital.” And $20 million in Google Cloud credits has been set aside for academic institutions and researchers studying potential vaccines and therapies for COVID-19.
The company also announced that it will be increasing the gift match it offers employees annually, from $7,500 to $10,000.
Google is just one of a handful of tech giants working to relieve the economic stress caused by the coronavirus. According to a report by CNBC, Apple, Salesforce, and Facebook have also funded relief efforts amid the global pandemic.