France’s National Rally party has reached a preliminary agreement with two European banks for a €10.6 million loan intended for Marine Le Pen’s 2027 presidential campaign. The names of the financial institutions have not been disclosed, and a final response is expected by the end of November.
“We are in very advanced negotiations with two non-French but European banks,” the party’s treasurer, Kevin Pfeffer, told AFP. He added that he was “quite optimistic” about the loan being granted and described the preliminary agreement as recognition of the reliability and credibility of the party’s financial record.
French banks refused to provide financing
The preliminary agreement was reached after a prolonged search for a lender for Le Pen’s campaign. According to AFP, several French banking groups, including Société Générale and La Banque Postale, refused to provide financing, arguing that they no longer lend to political organizations, regardless of the candidate or the election.
The French government was also seeking a solution to ensure candidates’ access to bank loans. Prime Minister Sébastien Lecornu called on banks to participate in financing presidential campaigns, warning of the risk of foreign influence if political parties were forced to seek funding outside France.
The previous loan came from a Hungarian bank
In 2022, Marine Le Pen received a €10.6 million loan from a Hungarian bank for her previous presidential campaign. For the 2027 election, National Rally once again turned to European lenders after failing to secure financing from French banks.
The amount required is linked to campaign expenses, which are reimbursed by the state if the statutory conditions are met. According to AFP, reimbursable expenses for a candidate who reaches the second round amount to around €10.7 million.
Pfeffer said at the end of October that the party could campaign at a normal pace until the end of 2026, but would then have to seek another solution. He pledged that National Rally’s remaining debts would be paid off before the elections scheduled for April 18 and May 2, 2027.
According to data cited by AFP, the party’s liabilities stood at nearly €19 million at the end of 2024, around €10 million at the end of 2025, and currently amount to approximately €7 million.
Sources: gestion.directsecurities.fr, lemonde.fr