Facebook $100Mln Fund To Help Small Businesses Survive Coronavirus Pandemic - Officer

Daniyal Sohail Published March 17, 2020 | 09:47 PM

US social media giant Facebook established a $100 million fund targeting 30,000 small businesses with aid to weather the economic slowdown due to the novel coronavirus (COVID-19), Chief Operating Officer Sheryl Sandberg said on Tuesday

WASHINGTON (UrduPoint News / Sputnik - 17th March, 2020) US social media giant Facebook established a $100 million fund targeting 30,000 small businesses with aid to weather the economic slowdown due to the novel coronavirus (COVID-19), Chief Operating Officer Sheryl Sandberg said on Tuesday.

"We've listened to small businesses to understand how we can best help them. 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.

That's why today I'm announcing that Facebook is investing $100 million to help 30,000 small businesses in over 30 countries where our employees live and work," Sandberg said in a Facebook post.

Sandberg added that the $100 million will be distributed as cash grants and ad credits.

In a separate press release, Facebook's Head of Health Kang-Xing Jin said Facebook is monitoring novel coronavirus-related information for accuracy in an attempt to limit misinformation about the disease.