The move follows criticism tech giants are not doing enough to debunk online disinformation.

The COVID-19 pandemic and the US election last year spurred a massive spike in misinformation, with some blaming social media for not being more proactive in tackling the issue while regulators have indicated they may take action via heavy-handed restrictions.

The European Media and Information Fund, launched by the Calouste Gulbenkian Foundation and the European University Institute last week, aims to enlist researchers, fact-checkers, not-for-profits and other public interest-oriented bodies to help in the fight against fake news.

Google's EMEA Business & Operations boss Matt Brittin said in a blog post."While navigating the uncertainty and challenges of the last year, it has proven more important than ever for people to access accurate information, and sort facts from fiction".

The fund has a duration of five years. The European Digital Media Observatory, which is a European Commission project set up last year and whose members include fact-checkers and academic researchers, will evaluate and select the projects.