grant

A grant is a financial award given by a government entity, foundation, corporation, or other organization to an individual or organization for a specific purpose. Unlike loans, grants do not need to be repaid, making them an attractive source of funding for various activities, such as research, education, public service projects, and business ventures. Examples include student grants, research grants, the Sovereign Grant paid by the UK Treasury to the monarch, and some European Regional Development Fund payments in the European Union.

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