This is straight from the NZAID website:
Following recommendations made in the 2004/05 VASS Evaluation, all VASS grants are now on a 4:1 basis, including general projects which were previously on a 2:1 basis. This means that for every dollar provided by the New Zealand NGO, NZAID will provide 4 dollars.
Here are a couple of links that provide information on the VASS Criteria:
The criteria are briefly summarised in section A3, pg 3. It's worthwhile reading around them however, as there are other requirements such as evidence of "financial and managment capacity to assess, manage and report accurately on projects and activities for which funding is recieved."
To get an idea of the actual paperwork that must be filled out for the grant follow this link (downloadable word document):
An example of how the forms are filled out is detailed at: