Google reserves $800 million to support SMEs during COVID-19 crisis

March 30, 2020 by
Nico Hoeijmans

Google aims to help address some of the challenges the world is facing while dealing with the coronavirus outbreak. To do this, the company reserves more than $800 million. Google commits itself to use this to support small- and medium-sized businesses, health organisations and governments, and health workers on the frontline of the pandemic.

The commitment of Google includes $250 million in ad grants to help the World Health Organisation (WHO) and government agencies globally to provide critical information. In an earlier stage, the company already reserved $25 million for this purpose.

Another $200 million investment fund supports NGOs and financial institutions around the world to help provide small businesses with access to capital. At the same time, it will make $340 million in Google Ads credits available to SMEs. For this, an SME's account has to be active over the past year. Credit notifications will appear in these SME's accounts and can be used until the end of 2020.

The company aims to support academic institutions and researchers. It creates a pool of $20 million in Google Cloud credits to leverage computing capabilities and infrastructure. This can help studies on potential therapies and vaccines, track data and identify new ways to combat the virus.

Finally, Google financially supports and provides expertise to help increase the production capacity for personal protective equipment, such as face masks, and lifesaving medical devices.

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