PBR - load balancing
When performing PBR - Policy Based Routing, it is possible to assign multiple next hop addresses. However, PBR will not load balance traffic among those addresses. Instead, it will use the first valid next-hop in the list and send all the traffic to it.
The router will only move to the next next-hop in the list if the first one becomes unreachable. In other words, it works in a failover manner rather than load balancing.
This is in contrast to Equal-cost Multi-path routing which uses dynamic routing protocols