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1. The Facility shall be implemented in accordance with Regulation (EU, Euratom) 2018/1046, either in direct management or in indirect management with any of the entities referred to in Article 62(1), first subparagraph, point (c), of that Regulation.

2. Union funding may be provided in any of the forms laid down in Regulation (EU, Euratom) 2018/1046, in particular grants, prizes, procurement, budget support, financial instruments, budgetary guarantees, blending operations and financial assistance.

3. Financial instruments, budgetary guarantees and blending operations combining support from financial instruments or budgetary guarantees under the Facility shall be implemented in accordance with the principles laid down in Title X, and in particular with Articles 208 and 209(1), (2) and (4), of Regulation (EU, Euratom) 2018/1046. Depending on the required operational and financial capacity, the counterpart of the budgetary guarantee or the entrusted entity implementing financial instruments may be the EIB Group, a multilateral European financial institution, such as the EBRD, or a bilateral European financial institution, such as development banks or the World Bank Group. Whenever possible, non-European multilateral financial institutions may participate in the Facility through joint operations with European financial institutions. The implementation of financial instruments, budgetary guarantees and blending operations under the Facility may be complemented by additional forms of financial support from either Member States or third parties.