Google is donating $800 million worth of funds and other resources into communities around the globe affected by the COVID-19 crisis. CEO Sundar Pichai announced the move late last week, stating Alphabet’s subsidiary will be supporting both businesses and governments, as well as non-profits.
The donation pool doesn’t consist of just cash, though a $200 million investment fund is at the center of the effort. A subset of partners are to disseminate the capital in a more targeted manner across communities worldwide. One of Google’s key allies in this area is the Opportunity Finance Network. The Washington-based organization will allocate the funds to entrepreneurs and groups unable to secure support from the conventional finance sector.
Other than that, the endeavor also includes $340 million in evenly distributed Google Ads credits. Small- and medium-sized businesses that advertised with Google in the last year are eligible for that support package. The credits will only be valid until the end of 2020, the California-based Internet behemoth said.
Moving on, Google secured an extra $250 million in ad grants to support information campaigns related to the pandemic. This (more) targeted relief effort will directly benefit the World Health Organization, with numerous government agencies also being eligible to take advantage of it. Google already announced $25 million in identical grants last month. An extra package worth $20 million is going solely toward public service announcements involving global relief efforts.
Google both donating and incentivizing employee donations
The newly announced initiative comes shortly after Google.org greenlit some $15 million worth of cash grants. Those funds will also be injected into small- and medium-sized businesses, in addition to non-profits. In both cases, the conglomerate’s goal is twofold; First of all, it’s looking to alleviate the potentially devastating effects of the ongoing pandemic in the private sector. Secondly, it’s supporting organizations working to do the same.
Following a similar train of thought, $20 million worth of Google Cloud credits will be going toward COVID-19 research, Pichai announced. Academics wanting to apply for those grants can do so from the Google for Education portal. In the meantime, Google says it’s doing what it can to bolster medical equipment production worldwide.
The firm’s further incentivizing staffers to donate to their communities via a newly strengthened matching funds program. According to the new policy, Google will match all employee donations up to $10,000 annually, which is a $2,500 increase.
On the consumer-facing side of things, many Google apps were updated to reflect the current global instability. The tech giant also took WHO’s social distancing guidelines to heart, having canceled I/O 2020 in its entirety while encouraging employees to work from home as much as possible.
Google’s likely to continue donating to communities the world over in the coming weeks.