"Home Meal Network Gets Backing from Sberbank, Local Regions, and Ministry of Economic Development"
In the heart of Russia, a new fast-food network is taking shape with ambitious goals to revolutionise the dining landscape, potentially replacing well-established giants like McDonald's. Dubbed "Eat Local!", this project aims to promote homegrown cuisine and support local agriculture. However, its association with a specific TV show and its star, Julia Vysotskaya, may limit its appeal to a narrow segment of the population.
The concept of "Eat at Home" venues, while innovative, remains unclear, making it hard to predict their popularity. Pavel Shchipanov, head of the analytical department at Romanov Capital, has expressed his support for the project's importance, while Alexander Pakhomov, executive director of "GingerBrandMen", has raised concerns about competing with McDonald's due to the latter's extensive brand history and investments.
To bolster the project, regional authorities are ready to offer sites for catering points, and the governments of Kaluga and Moscow regions have been tasked with addressing the issue of locating network facilities. Sberbank and the Central Bank, along with institutions ensuring support for entrepreneurs and project authors, are discussing the possibility of providing credit resources for the project.
The project aims to secure 70% funding from Sberbank, with government guarantees, and return the loan funds in just 2.5 years, not the previously reported 4.8 years. The director of the project has stated that he is not seeking money from taxpayers or the state.
Arkady Dvorkovich has tasked the Ministry of Economic Development, Ministry of Industry and Trade, and Ministry of Agriculture to develop proposals for comprehensive support of the Eat Local! network. Boris Fedosimov, General Director of "Ludi Dela Holding", finds it difficult to assess the demand for the project, given its novelty.
Andrey Konchalovsky and Nikita Mikhalkov, renowned film directors, proposed the creation of the Eat Local! fast-food network in mid-April. Rospotrebnadzor, Rosselkhoznadzor, and MChS are to address the issue of launching production facilities of the project, although specific details on their roles are not yet clear.
While the search results do not provide direct information about comprehensive support for the Eat Local! network in Russia or the specific roles of government ministries, banks, and regional authorities in this initiative, it is generally understood that such local food networks typically receive support from several government bodies and financial institutions to promote local agriculture and food security.
For precise information, it would be necessary to consult dedicated Russian government publications or reports on regional food policy and agricultural support programs. Despite the challenges, the promising potential of Eat Local! has sparked excitement and anticipation within the Russian dining scene.
- Pavel Shchipanov, supporting the "Eat Local!" project, has recognized its potential significance in the business world, particularly in the realm of entrepreneurship and finance.
- Alexander Pakhomov, executive director of "GingerBrandMen", voices concerns about the project's ability to compete with established brands like McDonald's, given the latter's extensive history in real-estate and investing.
- Sberbank and the Central Bank, along with institutions ensuring support for entrepreneurs and project authors, are currently in discussions regarding providing credit resources for the expansion of the "Eat Local!" fast-food network, indicating potential investment in this innovative business.
