Google Has a $1.2 Billion Plan for Latin America

Alphabet’s Google (GOOG) has committed to invest $1.2 billion in Latin America over the next five years to support economic development and digital transformation in the region, where the company has had an active presence since 2005.

The investment was announced by Google and Alphabet CEO Sundar Pichaiduring the IX Summit of the Americas, held this week in Los Angeles, California. Of this amount, $300 million – split into $50 million in cash contribution and $250 million in advertising credits – will go to Google’s philanthropic arm, Google.org, which funds sustainability NGOs and economic opportunities for women.