San Francisco, July 23 Tech giant Meta has made a commitment that provides for ongoing financial support for the Oversight Board, and as part of that commitment, it will make a $150 million contribution to the Trust.
On the microblogging site Twitter, Meta President of Global Affairs Nick Clegg said that this money will go into the Oversight Board Trust, which enables the board to continue operating as a separate entity.
"Since its launch, the Oversight Board has had a significant impact. Its binding case decisions and non-binding recommendations have led to greater transparency in our content decisions, and have pushed us to strengthen Meta's policy and enforcement practices," Clegg wrote on the platform.
Under the terms of the Trust, the funds contributed by the company are irrevocable and can only be used to fulfil the Trust's purpose of funding, managing, and overseeing the operation of the Oversight Board.
This $150 million contribution to the Trust is in addition to the company's prior contribution of $130 million announced in 2019 when the Trust was first established.
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