Drake is truly proud of where he's from and in a kind gesture of appreciation, Canada has granted funds toward the Toronto-native's fifth-annual OVO Fest.

According to Boombox, Drake will be receiving a grant issued by the Celebrate Ontario program administered by the Ministry of Tourism, Culture and Sport.

The grant is reportedly worth $300,000.

Boombox also says that this level of funding puts Drake's summer concert financially neck-and-neck with the Toronto International Film Festival, the Stratford Festival and Rogers Cup tennis tournament.

Global News reports that funding for OVO Fest is $7,000 more than the 10-day TD Toronto Jazz Festival received and $3,000 more than the 10-day Royal Agricultural Fair was given.

Prices on Ticketmaster for Drake's festival are listed ranging from $124.80 to $347.50 and individual tickets are available for $66.50.

Last month, Drake announced that legendary Atlanta rap duo Outkast would be headlining alongside himself with special guests.

The 2014 OVO Fest will be held in Drake's hometown on August 3 and 4. Outkast will hit the stage the first night with Drake headlining the second night of the concert series.

In the past, previous OVO Fest performers have included Lil Wayne, Nicki Minaj, Snoop Dogg, Rick Ross and J.Cole.

Last year, Drake reunited Ma$e and Diddy on stage, TLC performed and Kanye West made a cameo.

We're excited to see what he has in store for this year.

See More Drake, OVO Fest, Canada
Join the Discussion