Facebook offers $100M to small businesses in 30 countries impacted by coronavirus
Facebook on Tuesday announced that it was offering $100 million to help small businesses in 30 countries cope with the economic impacts of the coronavirus pandemic.
The social networking giant said it will be giving cash grants and ad credits to as many as 30,000 enterprises.
"We've listened to small businesses to understand how we can best help them," Chief Operating Officer Sheryl Sandberg said.
"We've heard loud and clear that financial support could enable them to keep the lights on and pay people who can't come to work."
In a related move, Facebook agreed to offer $1 million to its partners in the International Fact-Checking Network working on the COVID-19 related misinformation.
The money will consist of "flash grants" of up to $50,000, according to the Poynter Institute, which has been coordinating the #CoronaVirusFacts Alliance in at least 45 countries.
Facebook noted that it had already taken steps to limit misinformation and harmful content about the pandemic, including banning ads intended to create panic or promote unproven cures.
The move comes amid an unprecedented global response to the pandemic as well as increased claims that the virus itself is a hoax.
Several countries have implemented effective lockdown measures to contain the outbreak, a move followed by some US cities and states.
Recently, Indian digital payments leader Paytm announced the launch of the ‘India Fights Corona’ campaign to help prevent and manage the spread of novel coronavirus in communities.
In its efforts, the startup has partnered with hygiene brand Lifebuoy and Yuvraj Singh’s YouWeCan Foundation.
Opening donations, Paytm is appealing to Indians to contribute on the Paytm App and help in the distribution of Lifebuoy hygiene products among vulnerable sections of the society.
The donations raised will be used to procure and distribute soaps and handwash to people who need it the most – including people who are a part of our everyday life, such as our househelp, security guards, drivers, and vegetable vendors among others.
(Disclaimer: Additional background information has been added to this PTI copy for context)
(Edited by Evelyn Ratnakumar)