French far right on track to secure €10 million loan for Le Pen's presidential campaign
Summary
France’s far-right National Rally party has reached a preliminary agreement with two unnamed, non-French European banks for a €10.6 million loan to help fund Marine Le Pen’s presidential campaign. The lenders are expected to decide by the end of November; the party has faced difficulty securing loans from French banks.Key Facts
- National Rally treasurer Kevin Pfeffer said the party is in advanced talks with two European banks.
- The proposed loan is €10.6 million.
- The lenders are expected to provide an answer by the end of November.
- Pfeffer did not disclose the banks’ names.
- Several French banks, including Société Générale and La Banque Postale, have refused to finance political activity.
- Candidates who reach France’s presidential election runoff can qualify for state reimbursement of campaign costs up to €10.7 million.
- National Rally received a €10.6 million loan from a Hungarian bank in 2022.
- The party previously borrowed €9.4 million from a Moscow bank and paid it off in 2023.
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