More than a third of small and medium-sized businesses on Facebook in India expect cash flow to be a challenge for them as they navigate through the coronavirus pandemic in the next few months, according to a report by Organisation for Economic Co-operation and Development (OECD) and the World Bank.
Facebook, which reaches nearly every internet users in India and which collaborated with OECD and World Bank on the report, wants to help. The social giant today announced a grant of $4.3 million for more than 3,000 small businesses across Delhi, Gurgaon, Mumbai, Hyderabad, and Bangalore (Indian cities where the company has its offices).
In an interview with TechCrunch, Ajit Mohan, head of Facebook India, said the grant includes both cash and ad credits, with cash constituting the larger share. These businesses don’t have to advertise on Facebook to be eligible for the grant, he said. Businesses can apply for the grant starting today.
The India grant is part of the company’s $100 million global grant for small businesses that it announced in March.
Additionally, Facebook and Instagram have also launched capabilities for businesses in India to sell …read more
Thank you Source: Social – TEch crunch