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French National Front Struggling To Fund Campaigns After Russian Lender Fails

Marine Le Pen, the leader of France's far-right National Front party

France's National Front (FN) is struggling to raise the 20 million euros ($21 million) it needs to fund next year's presidential and legislative election campaigns, the party's treasurer told Bloomberg News.

The Moscow-based First Czech Russian Bank (FCRB) lent the far-right party more than 9 million euros ($9.4 million) in 2014, but the Russian central bank revoked the bank's license in July.

In an interview published on December 22, National Front treasurer Wallerand de Saint Just told Bloomberg that the party is looking for new financial backers.

"The loss of the FCRB was a hard blow for us," Saint Just said. "The Russia loan was a stable resource. Now we are still searching for loans."

Saint Just said he is seeking lenders in countries including Russia because French banks are refusing to fund the party.

Opinion polls show National Front leader Marine Le Pen is running second in the race to become France's next president.

The two-round presidential election is scheduled for April and May and the French will return to the polls in June to elect deputies.

Based on reporting by Bloomberg