“As the coronavirus outbreak continues to worsen around the world, it’s taking a devastating toll on lives and communities,” said Alphabet and Google CEO Sundar Pichai in a blog post Friday. “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.”
As part of the package, the company is also donating the following:
- A $200 million investment fund that will help NGOs and financial institutions provide small businesses with capital
- $250 million in advertising grants to help the World Health Organization and government agencies offer information on how to prevent the spread of COVID-19
- $20 million in Google Cloud credits for academic institutions and researchers
- Unspecified financial support to help increase production capacity for lifesaving equipment, including face masks and ventilators.
We’re committing $800M+ in new #COVID19 response efforts, incl $340M in @GoogleAds credits for SMBs worldwide, $250M in ad grants for @WHO & 100+ govt orgs globally, a $200M investment fund for NGOs & banks to help small businesses access capital, and more https://blog.google/inside-google/company-announcements/commitment-support-small-businesses-and-crisis-response-covid-19 …COVID-19: $800+ million to support small businesses and crisis responseWe’re making an $800+ million commitment to support small- and medium-sized businesses, health organizations and governments, and health workers.blog.google8,1161:01 PM – Mar 27, 2020Twitter Ads info and privacy2,588 people are talking about this
The announcement comes as Silicon Valley tech giants like Apple, Salesforce and Facebook fund relief for the economic disparity caused by the COVID-19 pandemic. Google’s sister company, Verily, this week ramped up drive-thru coronavirus testing with 1,000 Google volunteers as a part of an effort to screen and test people with symptoms, CNBC reported Thursday. Google launched a separate informational site a week ago.
Pichai said that employees 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.”
In addition to the commitments, the company said Friday that it has increased the gift match Google offers every employee annually to $10,000 from $7,500.