Google, the internet technology provider owned by US-listed holding company Alphabet, is partnering organisations in three continents to provide $75m for small and medium-sized companies.
The funding will make up part of an $800m initiative announced in March 2020 and will include a $25m commitment to two vehicles for European Investment Fund (EIF) – part of the European Union-owned European Investment Bank – and $15m in loan capital split across 1,000 European small businesses.
Another $10m will go to a venture capital fund backing 200 life sciences companies. In Latin America, Google will work with the Inter-American Development Bank to allocate $8m to small companies, and it has also set up a $26m loan fund with non-profit organisation Kiva for emerging markets.
