Asian Development Bank president Tadao Chino on Tuesday announced his resignation effective January 2005, the Bank said in a statement.

The ADB did not give any reason for Chino's resignation nor who will replace him.

"I am resigning with a deep sense of satisfaction and gratitude," Chino said.

Chino, a Japanese citizen, joined the Manila-based bank in 1999.He said he felt it an "opportune time" for him to leave ADB and return to Japan.

"Since I am equally aware that much remains to be done, I will do my best in performing my responsibility as president until my last day at the ADB," he said.

ADB, established in 1966, is a multilateral development finance institution working to reduce poverty in Asia and the Pacific. It has now 63 members.

(Xinhua News Agency September 1, 2004)