Russian President Vladimir Putin has backed the creation of a new chain of "patriotic" fast food restaurants to rival U.S. brands in the country, according to a Russian media reports.
Two Oscar-winning Russian film directors, brothers Andrei Konchalovsky and Nikita Mikhalkov, will reportedly receive $14 million to set up a national fast food chain, RBC news agency reported citing an unnamed government source.
The fast food chain will be funded under a government scheme that helps small and mid-sized businesses get bank loans, RBC said, and would be called "Yedim Doma!" -- "Let's eat at home!" – building upon an existing brand owned by the wife of one of the film directors.
Russian newspaper Kommersant reported earlier this year that the directors had claimed in a letter to President Vladimir Putin that the project would "rival American fast-food chains."