The funds are part of an $800 million initiative announced
in March last year in response to the pandemic.
Google, a unit of Alphabet, said on Wednesday that it would
invest in two EIF funds, giving $15 million in loan capital to 1,000 European
small businesses and $10 million in EIF’s venture capital fund backing 200 life
sciences companies.
The EIF is part of the European Investment Bank group, the
lending arm of the European Union.
In Latin America, Google will work with the Inter-American
Development Bank to allocate $8 million to small companies.
It has also set up a $26 million loan fund with Kiva, an
organisation that crowdfunds loans, to help businesses in Africa, the Middle
East and Indonesia. Indian companies will get $15 million. – Reuters
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