Formal noun for a benefit or kindness received from someone, often with a nuance of graciousness or benevolence. Not used for casual 'favor' like a small help.
Thanks to his gracious favor, we were able to use this land.
This scholarship is due to the benevolence of many alumni.
Compound of 恵 (grace, blessing) and 沢 (bounty, benefit). The exact historical derivation is uncertain, but the combination conveys a sense of abundant kindness.