Facebook Commits $100 Million to Support Small Businesses During Pandemic
Facebook launches a $100 million grant program to assist 30,000 small businesses impacted by the COVID-19 crisis. The tech giant also expands its efforts to curb misinformation and supports various global relief funds.
Facebook announces a $100 million commitment to support small businesses negatively impacted by the COVID-19 pandemic. This initiative provides cash grants and ad credits to 30,000 eligible businesses in over 30 countries where Facebook employees live and work. Chief Operating Officer Sheryl Sandberg emphasizes that small businesses are the heartbeat of communities and face severe risks the longer this crisis continues.
Beyond financial grants for businesses, Facebook outlines broader efforts to combat the global outbreak. The company actively works to keep misinformation off its platform while connecting users with credible health information. Additionally, Facebook removes advertisements that exploit the pandemic, such as those selling face masks, and partners with the United Nations Foundation and the World Health Organization to launch a COVID-19 Solidarity Response Fund.
Facebook also directs significant resources toward internal staff and the broader information ecosystem. The company gives $1,000 bonuses to all 45,000 employees through April and guarantees an "exceeds" performance rating for the first half of 2020. Furthermore, Facebook donates $1 million to support local journalism through the Lenfest Institute and another $1 million to the International Fact-Checking Network to ensure accurate news coverage during this emergency.