Facebook has pledged to invest $100 million in the news industry at a time when the ongoing coronavirus pandemic means that accurate reporting is more important than ever.

Axar.az reports citing foreign media that according to a blog post from the American firm, $25 million will be provided in grant funding for local news through the Facebook Journalism Project, while the remaining $75 million will come in to support several worldwide news organizations.

The tech company states that high-quality and accurate reporting is more important than ever, as misinformation about the virus spreads online.

And as it spreads, it creates more panic.