Sberbank of Russia will issue a $260 million loan to 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.
The government of Ukraine in June provided state guarantees for the credit funds of $260 million attracted by Pivdenne design bureau to implement the project on the creation of the Cyclone-4 space and rocket complex at the Alcantara spaceport (Brazil).
Some $83 million of the sum will be used to create the Cyclone-4 carrier rocket and $177 million to ensure Ukraine’s participation in the creation of the complex ground infrastructure.
Alcantara Cyclone Space, a Ukrainian-Brazilian joint venture established in 2006, implements the project.
