14. Non-current loans and investments

in thousand EUR   2021   2020
Non-current loans, associates   394   365
NIBO investment   26   25
Total non-current loans and investments   420   390

The loan to associates was granted in connection with the 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.