Brazil development bank gets $1 bln loan from IADB

SAO PAULO, Oct 10 (Reuters) - The Inter-American Development Bank has approved a $1 billion loan for Brazil's national development bank BNDES to provide long-term credit to small and medium-size businesses, the IADB said on Friday.

Some 30,000 businesses may benefit from the funds through a program involving more than 80 Brazilian banks, the IADB said in a statement.

The loan is for 20 years, with a four-year grace period. The BNDES will provide an additional $1 billion in counterpart funds.

Brazil's government has requested that the BNDES step up lending to help ease a credit crunch stemming from the global financial crisis. (Reporting by Todd Benson, editing by Richard Chang)