Amazon's fund for SMBs in logistics will be available to its delivery service partners and select transportation partners in India
on Wednesday said it had introduced a partner support fund to help small and medium businesses (SMBs) heavily reliant on the company. It noted in a statement that SMBs across India had been financially impacted due to the nationwide lockdown
in force to prevent the spread of coronavirus.
This Amazon fund for SMBs in logistics would be made available to its delivery service partners and select transportation partners in India to help adjust their business models to the "new realities" posed by the lockdown, it said. "Through 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, the company would help cover some critical fixed infrastructure costs, and support liquidity and cash flow for these businesses as they resumed and scaled their operations after lockdown, Amazon India
said, according to a PTI
"Amazon is committed to keeping India safe by delivering essentials to customers at their doorstep. We are equally invested in helping our partners overcome the unforeseen disruption in business. Our commitment to partners and to India is for the long-term, and this fund, in addition to other measures, aims to help SMBs overcome the situation with relative ease," said Akhil Saxena, vice-president (Customer Fulfilment Operations), APAC, MENA & LATAM, Amazon.
The Amazon Partner Support Fund follows the recent announcement of the global $25 million Amazon Relief Fund (ARF) in India. ARF can be utilised by qualifying individuals who have been quarantined or diagnosed with Covid-19.