14. Non-current loans and investments

in thousand EUR   2020   2019
Non-current loans, associates   365  
NIBO investment   25   25
Total non-current loans and investments   390   25

The loan to associates was granted in connection with the new investment in Compagnie des Placages de la Lowé S.A.

The investment in Nederlandse Inter­nationale Bosbouw Onderneming NV (NIBO) is placed in USD with a value of USD 27 306.