KIEV/MOSCOW, Nov. 17 - Sberbank of Russia will issue a $260 million loan to Ukraine’s Pivdenne design bureau, the bank has reported.

The bureau plans to use the funds to finance the Ukrainian-Brazilian project to create the Cyclone-4 space and rocket complex.

According to the company, loan funds were raised at a tender for 7 years at 6% per annum and are secured by the government of Ukraine.