- Google said that it’ll invest $200 Mn to provide loans to SMBs
- The tech giant is offering $340 Mn as Google Ads credits to SMBs
- It'll also provide $250 Mn in Google Ads to WHO and over 100 government agencies
CEO Sundar Pichai announced Friday that his company would be donating more than $800 million in ad credits and loans to help government orgs and small businesses respond to the COVID-19 crisis.
The announcement gives a full breakdown of the deployment, the bulk of which is in credits for Google services:
- Google will be giving $250 million worth of ad grants to more than 100 government orgs across the globe, including the World Health Organization.
- They will also be seeding $340 million in ad credits to small businesses with accounts that have been active in the past year. The credits are good through the end of the year.
- They’ll be giving away $20 million worth of Google Cloud credits to academic institutions and researchers that are tackling COVID-19.
- $200 million will go to an investment fund for nonprofits and financial institutions to provide small businesses with loans.
- Google further reiterated they will continue to invest in helping suppliers scale up production of face masks and other personal protective equipment.
COVID-19 is a global crisis and big tech companies like Google have strong global networks that are important to leverage. The global economy is undoubtedly being stressed by the pandemic, with small businesses especially being affected, and Google signal-boosting the World Health Organization and other government orgs with information to disseminate is a good move that more companies should follow.
As with any donation from a big tech company, it’s healthy to look at what recipients are getting and what the institution itself is earning.