Facebook, the price of a $100 million, in the form of grants and ad credits to small businesses

FILE PHOTO: A Facebook logo is displayed on a mobile device, in this figure, the 6 of January by the year 2020. REUTERS/dado Ruvic/Image/File Photo

WASHINGTON (Reuters) – Facebook Inc said on Tuesday that it plans to use the prize of up to $100 million in cash grants as well as ad credits, to a maximum of 30,000 small businesses in more than 30 countries, and the economic impact of the corona virus outbreak.

The majority will be in cash, grants, and Facebook will give you more details soon, on how companies will be able to apply for assistance.

Facebook Chief Operating Officer Sheryl Sandberg said in a post on Tuesday that the global economic distortions poses a serious risk to your small business. “We have listened to small businesses in order to understand how we can best help you. We’ve heard loud and clear that the financial support they may be able to turn the lights on and paying the people who are not able to come to work for us,” Sandberg said, adding that Facebook is also making it easier for small businesses to receive training and support from the team.

Facebook said: “companies will be able to make use of the cash to pay the rent, cover its operating costs, or the advertisements on Facebook.

Report by David Shepardson; Editing by Chizu Nomiyama

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