Tadao Chino said the global bond would be a benchmark transaction, although ADB doesn't yet have a plan for its launch's size, timing or maturity.

"But we will be responsive to the opportunities presented by the market," Chino said. In May 1998, the Manila-based development bank issued a five-year $2 billion global bond priced 0.27 percentage point over the equivalent US Treasurys. With the turmoil in Indonesia causing fresh tremors on financial markets at that time, ADB's timing on the float could hardly have been worse.

ADB plans to raise $7.1 billion through bond sales this year, down from $9.6 billion in 1998.

"As in recent years, the bank will consider benchmark public bond issues to maintain its borrowing presence in key markets," Chinosaid.

"Furthermore, arbitrage-drive issuance and structural private placements are expected to be a significant portion of the bank's funding strategy," he added.

So far this year, ADB sold 10 billion New Taiwan dollars (US$302.2 million) of bonds in Taiwan, its first foray into that market in two years. It also has offered US$500 million of three-year Eurobonds, a 10-year US$250 million private placement and a six-year 300-million-Swiss-franc (US$202.4 million) public-bond issue.

Chino said ADB would continue, subject to the right market conditions, to "assist in the Asia-Pacific region's debt-market development."

ADB previously has said that it is considering launching bonds denominated in Singaporean and Hong Kong dollars this year, and that it is in talks with regulators in both markets.

Chino made clear that ADB will continue to make use of short-term, bridge financing -- should the need arise, and even if market conditions aren't favorable for selling longer-dated bonds.

ADB president saidthe sharp rise in bank lending over 1998 and 1997 caused by the financial crisis had placed strains on the bank -- specifically in meeting its net-income targets.

"So we are considering a variety of ways of addressing this issue, , including a review of OCR charges and a review of investment strategy," he said.

Some two thirds of the bank's lending comes from so-called ordinary capital resources, or OCRs, comprising bond sales, subscribed capital and reserves.

Chino said the regional crisis isn't expected to have an impact on the terms of loans drawn from the Asian Development Fund, the bank's low-interest-rate facility to its poorest members, such as Vietnam and Bangladesh.