Amazon India launches new fund to help small businesses impacted by coronavirus
Amazon India has launched a new fund that caters to the small and medium businesses (SMBs) who are heavily reliant on the e-commerce giant for their survival. The partner support fund will help all the SMBs across India that have been financially impacted by coronavirus, Amazon said in a statement.
This fund for SMBs in logistics will be available to delivery service partners and select transportation partners in India to help adjust their business model to the "new realities" posed during the lockdown, it said.
"Through the one-time disbursement, the fund will support the partners in multiple ways. This includes enabling them to provide financial aid to close to 40,000 of their staff for the month of April 2020.
Additionally, it will help cover some critical fixed infrastructure costs, and support liquidity and cash flow for these businesses as they resume and scale their operations post lockdown," the company said.
