RECIT – Reseau Europeen des Centres Internationaux de Traducteurs litteraires (in not accented french) offers many opportunities for literary translators to travel abroad and stay in translators’ residences all over Europe.
You usually have to have a contract with a publisher for a book or poetry collection or even non-fiction, though for most of them you have to be translating from or into the local language. Most of them are free however or require only a small amount for living expenses. Travel fees are usually not or partially included.
The residence in Paros is really good for anyone looking forward to combining a grand tour on the Greek islands to inspiration for work (though how you can focus on translating books with the sea just in front of you I cannot fathom). The one in Lefkes, Crete, however is more like a secluded cove where you will find peace of mind and a very quiet natural setting. The British Centre for Literary Translation which would be an ideal choice for me since it is in the very active in the field of Translation University of East Anglia unfortunately hosts only translators from India.
And I have also found out that most of other Translation grants or fellowships are granted to translators from English speaking countries who translate into English (see for example the ATA fellowship etc).