The Asian Development Bank (ADB) today said it has completed the issuance of bonds worth an estimated 305 million US dollars in Singapore and Malaysia.

The issue is part of the Manila-based lender's objectives to help develop the debt market in Asia as well as cater to demand for local currency financing, it said in a statement received here.

"These transactions underline ADB's longstanding position as the leading supranational issuer in the region," said Mikio Kashiwagi, the ADB treasurer.

"This is in line with our objectives of contributing to bond market development in the region as well as responding to client demand for local currency financing."

The bond issues comprise of 250-million Singapore dollars and 500 million Malaysian ringgit, the ADB said.

The ADB announced in September plans to launch a 10-billion dollar Asian currency note programme to serve as the first platform for bond issues in regional currencies.

Under the scheme, Asian currency bonds are issued in their domestic markets under a single unified framework with a common set of documents governed by English law.

Kashiwagi, the ADB treasurer, said the bank is exploring the possibility of issuing bonds in Indonesia, Vietnam, Pakistan and Papua New Guinea.