EIB and Boels Rental sign EUR 50 million loan under Juncker Plan

The EIB loan to the project is backed by the European Fund for Strategic Investments (EFSI), the main pillar of the Investment Plan for Europe, also known as the Juncker Plan.

·         EIB to lend EUR 50 million to Boels with support under the Investment Plan for Europe, or Juncker Plan.

·         Financing meant for acquisition of new vehicles and machinery for rental and leasing purposes, supporting a circular business model.

The European Investment Bank and Boels Rental have signed a EUR 50 million loan agreement in Sittard, the Netherlands. The EIB loan to the project is backed by the European Fund for Strategic Investments (EFSI), the main pillar of the Investment Plan for Europe, also known as the Juncker Plan.

The financing will be used by Boels to acquire new vehicles, machinery and related equipment for it's rental and leasing activities. Through a greater availability of the necessary machines, Boels supports a circular business model in which these machines are no longer bought, but leased or rented. This increases the efficient use of the machines and reduces pollution due to CO2 emissions, as well as the number of machines written off.

“Doing one’s bit for the climate can be done in many ways,” says EIB Vice-President Emma Navarro. “Boels is a great example in that it allows construction companies and private users alike to deliver top of the line results, without them having to necessarily buy specialized machinery. The fact that several parties can use the same machines makes a huge difference in terms of emissions and waste. We think that is important for the environment and are glad to support this.”

Karmenu Vella, European Commissioner for Environment, Maritime Affairs, and Fisheries, said: “I am pleased that the Juncker Plan is supporting a family business in the Netherlands which promotes the circular economy model. 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.”

“The current consumption model is rapidly depleting our natural resources. That is why the circular business model is increasingly seen as one of the solutions in combating resource scarceness and climate change,” adds CEO Pierre Boels.