Difference Between Similar Terms and Objects

Difference Between Aid and Grant

Aid vs  Grant

Every one has come across the terms Aid and Grant. But they hardly think that they are different and most of the time uses the two in the same context. However, the act is that Aid is different from Grant; these two terms cannot be one and the same.

What is Aid? Aid is basically the transfer of resources or funds from one country to another aimed at benefiting the country that receives it. Aid can be in different forms like International Aid, Foreign Aid or overseas Aid. But all these types of Aids are one and the same.

Aid is given by one country to another for various purposes like flood relief. Aid is also given for the purpose of strengthening one’s military, rewarding a government for some action, developing cultural aspects, building the economic situation and many other things. Apart from the countries giving Aid, private organizations and individuals also give it.

What is Grant? They are funds given out by one party to another. Generally government departments, Trusts, Foundations and Corporations are the funding agents that give grants. The grants are mainly given for non-profit entities such as educational, cultural and health purposes. Grants are also given to individuals if they are in some desperate situation or if they want to start some business.

Most of the grants are given for particular projects. But in the case of Aid, there is no need of such projects. Aid is given after taking into consideration the urgency of the matter concerned. Grants are given only after the concerned fund giver has approved a project submitted.

Summary

1. Aid is basically the transfer of resources or funds from one country to another aimed at benefiting the country that receives it.

2. Grants are funds given out by one party to another, mainly for non-profit entities.

3. Aid is also given for the purpose of strengthening one’s military, rewarding a government for some action, developing cultural aspects, building the economic situation and many other things.

4. The grants are mainly given for non-profit entities such as educational, cultural and health purposes. Grants are also given to individuals if they are in some desperate situation or if they want to start some business.

5. Most of the grants are given for particular projects. But in the case of Aid, there is no need of such projects. Aid is given after taking into consideration the urgency of the matter concerned. Grants are given only after the concerned fund giver has approved a project submitted.


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