€50 million circular economy loan for Boels Rental

SITTARD, The Netherlands: July 31, 2019. The European Investment Bank (EIB) is providing Dutch equipment leasing company Boels Rental with a €50 million loan to acquire new vehicles, machinery and related equipment based on a circular economy business model.

Boels retains ownership of the equipment and is responsible for end-of-life, recycling, repurposing or reuse. “The current consumption model is rapidly depleting our natural resources,” commented CEO Pierre Boels. “That is why the circular business model is increasingly seen as one of the solutions in combating resource scarceness and climate change.”

Founded in 1977, Boels provides rental equipment from over 400 branches in the Netherlands, Germany, Belgium, the United Kingdom, Luxembourg, Austria, the Czech Republic, Poland, Italy, Slovakia and Switzerland.

The EIB loan is backed by the European Fund for Strategic Investments, the main pillar of the Investment Plan for Europe – otherwise known as the Juncker Plan.

“I am pleased that the Juncker Plan is supporting a family business in the Netherlands which promotes the circular economy model, “ said Karmenu Vella, European commissioner for Environment, Maritime Affairs and Fisheries. “The rental and leasing industry offers a credible alternative to purchasing outright, which benefits both consumers and the environment. I encourage more companies with green business models to apply to the EIB for financing.”