MANILA, Aug. 4 (Xinhua) -- The Asian Development Bank (ADB) announced on Monday that it is continuing the expansion of its local currency bond program.

The move enables its members to access local currency financing at competitive rates while simultaneously mitigating borrowers' currency risks, thereby supporting more efficient and inclusive development, the ADB said.

The ADB issued its first Uzbekistan sum (UZS)-denominated bond in June, raising 312 billion UZS (approximately equivalent to 24.7 million U.S. dollars).

Arranged by Merrill Lynch International, the bond was priced at par with a coupon of 14.5 percent with a final maturity of three years. Proceeds of this gender bond were disbursed to support women-owned enterprises outside the capital, Tashkent.

In July, the ADB priced its third Mongolian togrog (MNT) bond for the year, which raised 30 billion MNT (approximately 8.4 million dollars).

The bond was priced at par with a coupon of 10.30 percent and has a maturity of three years. It was underwritten by Standard Chartered Bank and was fully allocated to asset managers in Europe. Proceeds of this health bond will be used to finance a hospital expansion project in Mongolia. ■