Netflix promises up to $ 100 million in “economic opportunity for communities”
Netflix pledging 2% of its funds provide “economic opportunities for communities”. The company plans to initially make up to $ 100 million, but over time that amount could grow in parallel with its cash flow.
The flow announced that the first $ 35 million of that amount will be allocated to two spheres. The $ 25 million will be used to set up an SME Initiative, a fund that will invest in SMEs and help businesses in the community. Another $ 10 million will be provided to Hope Credit Union to provide new economic opportunities for vulnerable communities in the Deep South. Netflix has no details on how it will provide the other $ 65 million.
“This capital will boost social mobility and opportunity in low- and middle-income communities that serve these groups,” said Aaron Mitchell and Shannon Alvin, director of talent acquisition and treasury. a recent blog post. “We plan to direct most of our funds to socially-oriented and centralized institutions as they grow, and we hope that others will do the same.”
Other major technology companies have pledged their support to these communities and to fight systemic racism in America. Earlier this month, YouTube pledged $ 100 million to “strengthen” the voices of its creators and musicians on its platform, and Apple launched a $ 100 million Race Justice and Justice Initiative, promising to increase its spending. to represent his S. well-known partners. Google, Facebook, Amazon, and others have committed themselves to racial and social justice. Liabilities come in response Protests in the United States to fight against systemic racism George Orchid Floyd’s death.
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