Facebook Inc launched its "Journalism Project" on Wednesday, as the world's biggest social media network looks to deepen its relationship with news organizations, informs Reuters.

The launch comes less than a week after the company said it was hiring former CNN reporter, anchor and host Campbell Brown to lead its news partnerships team.

As part of the new project, Facebook said on Wednesday it would focus on improving its current storytelling formats such as Live, 360, and Instant Articles.

Facebook said it would test a feature using Instant Articles to allow readers to see multiple stories at a time, as a package, from their preferred news organizations.

The company said it would work with third-party organizations to promote "news literacy" and help users decide which sources are trustworthy and would also continue to work on curbing hoaxes.

Facebook faced criticism in the last couple of months that it did not do enough to tackle the problem of fake news stories on its platform during the U.S. presidential campaign.