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MOSCOW (BNS): The Sberbank of Russia has agreed to provide funds for the Su-35S multi-role fighter aircraft programme.

The bank last week signed a deal with the Yuri Gagarin Aviation Industrial Concern (KnAAPO), incorporated by the Sukhoi Holding Company. Under the agreement, the bank will provide long-term funding for the Su-35S fighter programme, Sukhoi, manufacturer of the new aircraft, said.

Sukhoi was awarded an official contract worth $2.5 billion in August 2009 to supply the Russian Defence Ministry with 48 Su-35S fighters by 2015.

The Su-35 is an advanced long-range multi-role fighter of the 4++ generation. It employs fifth-generation technologies and features new increased and vectored thrust engines, new avionics suite and a new radar with a phased antenna array capable of detecting and tracking a larger number of air targets simultaneously.

The fighter can carry a wide range of weapons including guided aerial bombs and unguided missiles.

Russia also plans to export the Su-35 fighters to Southeast Asian, Middle East, and South American countries.