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1. Verb.

To create or transfer an interest in property.

The interest in the property might be outright ownership, or a lesser interest such as a security right.

2. Noun.

Funding that does not need to be repaid by the party receiving it.

Debts must be reduced
"[corporate] debts must be reduced to match revised asset profiles.
In this regard it is comforting to note that the French government is looking at converting €130bn of its crisis loans into grants.
Quite what might happen in the UK, where there are credible predictions that over a third of the £76bn of COVID-19 support scheme loans will default, remains to be seen."
Nick Hood, senior adviser, Opus Business Services - The Treasurer, Issue 2, June 2021, p37

See also