Of the total, USD 250 million in ad grants will go to the World Health Organization (WHO) and over 100 government agencies providing information on how to prevent the spread of the virus. This in an increase from the USD 25 million Google had initially earmarked. Another USD million in ad grants will go to community financial institutions and NGOs, specifically to run public service announcements on relief funds and other resources for SMEs.
A USD 200 million investment fund will go towards NGOs and financial institutions worldwide, to help provide small businesses with access to capital. For example, Google said it was working with the Opportunity Finance Network in the US to help fill gaps in financing for people and communities underserved by mainstream financial institutions. The fund will be in addition to the USD 15 million in cash grants Google.org is already providing to nonprofits to help bridge these gaps for SMEs.
About USD 340 million worth of Google Ads credits will be available to all SMEs with active accounts over the past year, up until the end of this year. About USD 20 million worth of Google Cloud credits will be released for academic institutions and researchers, so that they can use Google’s computing to track data, and find new therapies and vaccines against the virus. ·
Direct financial support and expertise to go towards increasing the production capacity for personal protective equipment (PPE) and lifesaving medical devices. Google said it is working with longtime supplier and partner Magid Glove & Safety, with the goal of producing 2-3 million face masks over the coming weeks. These will be provided to the CDC Foundation. Employees from across Alphabet, Google, Verily and X will contribute their expertise here.
Finally, Google has increased its gift match for employees to USD 10,000 from 7,500 per year. This comes in addition to the USD 50 million Google.org has already donated.
