French far right on track to secure €10 million loan for Le Pen’s presidential campaign

Marine Le Pen’s National Rally says it has reached a preliminary agreement with two non-French European banks for a €10.6 million loan to fund her presidential campaign. The party’s treasurer says the lenders are expected to decide by the end of the month; the funding matters because French banks have declined to finance the campaign.

National Rally treasurer Kevin Pfeffer said he was optimistic and that the application offered the lenders guarantees, but did not identify them. French presidential candidates can receive state reimbursement of campaign costs of up to €10.7 million if they reach the second round. The party borrowed the same amount from a Hungarian bank in 2022 and previously repaid a €9.4 million loan from a Moscow bank in 2023.