loan guarantee instrument
as defined in Regulation (EC) No 680/2007 of the European Parliament and of the Council of…, Article 2, point (12) (Definitions)
a guarantee issued by the EIB in favour of a stand-by liquidity facility provided to projects of common interest in the field of transport. It covers the debt service risks due to demand shortfalls and the resulting unforeseen loss of revenue during the initial operating period of the project. The loan guarantee instrument is used only for projects whose financial viability is based, in whole or in part, on revenues, tolls or other income paid by or on behalf of the users or beneficiaries;