Google and Alphabet CEO Sundar Pichai late Friday announced a more than $800 million commitment to support small businesses, health organizations, governments, and health workers impacted by Covid-19.
For small businesses, Alphabet is offering $340 million in Google Ads credits for those with active accounts since the beginning of 2019, though the exact amount per business has not been disclosed. The credits will be posted to your Google Ads account within the next couple months and can be used through the end of the year, across Google’s advertising platforms.
The tech giant also set up a $200 million investment fund to support NGOs and financial institutions globally 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,” Sundar Pichai said in the announcement on Google’s blog. “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.”
Another $20 million in ad grants will go to community financial institutions and non-governmental organizations for PSAs on relief funds and other resources for small businesses.
The World Health Organization (WHO) and more than 100 government agencies will also receive $250 million in ad grants from Google to share information about Covid-19 and other measures to help communities. This is an increase from the $25 million Google announced last month.
A pool of $20 million in Google Cloud credits will also be available for academic institutions and researchers to identify new ways to combat Covid-19.