A new survey shows that a majority of French voters believe President Nicolas Sarkozy's multi-billion-euro national loan program is a "useless" venture.

The president is set to announce the amount of the massive borrowing next month. The "grand loan," announced in June by Sarkozy, is aimed at easing the country's economic recovery and financing strategic investments.

Around 56 percent of the French said that the loan would be "useless" while 27 percent said they approved of the measure, the AFP reported, citing a TNS Sofres survey published on Thursday.

In reply to a question about their opinion on the right-wing government's economic recovery plan, nearly half of the respondents (47 percent) favored the overall scheme as "useful" while 39 percent viewed it as flawed.

A commission headed by former premiers, Michel Rocard and Alain Juppe, is reportedly requesting that the loan be totaled at 35 billion euros (52 billion dollars), according to a report in the financial daily Les Echos.

The commission is expected to issue a final report on November 19.

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