In Inko a borrow is sort of a hybrid in that it does increment a counter, but there's no shared ownership like there is in traditional reference counting (e.g. a borrow is never tasked with cleaning up data).
Terminology is a bit annoying here, as e.g. "reference" can also be interpreted as "a pointer", though it depends on who you ask. I stuck with "borrow" because that just made the most sense to me :)