subsidy

noun C1

Meaning

A subsidy is a financial assistance provided by a government or an organization to support or promote a specific economic sector, activity, or individual, often with the aim of enhancing public welfare, stabilizing market conditions, or fostering economic
💡 While "subsidy" is commonly associated with government support, it can also refer to financial aid from non-governmental organizations; care should be taken to specify the source to avoid ambiguity.

Example Sentences

The government granted a subsidy to support renewable energy projects .
The government provided a subsidy to support renewable energy projects .

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