A grant is non-repayable funding; a low-interest funding loan must be repaid – albeit on favourable terms; and a guarantee secures financing by having a public body assume part of the credit risk. Which form is most appropriate depends on the project, the liquidity situation and the risk profile, and it is often possible to combine several forms. The Funding Team assesses for each project which form of funding, or combination thereof, offers the greatest economic benefit, taking into account grant, loan and guarantee instruments.