DEVELOPING Asian countries must build up their capital markets to boost efficiency, limit foreign debt, and free up access to funds, says Asian Development Bank (ADB) senior treasury officer Peter Balon. In an overview of Asia's bond markets, Mr Balon said the region would face a US$$830 billion to $950 billion infrastructure bill in the next 10 years - and Asian savers would probably end up footing part of it. The level of infrastructure spending in Asia - about five per cent of gross domestic product (GDP) a year - would have to rise by two per cent a year for the next 10 years to keep pace with demand. 'This will mean that annual infrastructure investments in the ADB's developing member countries will have to be of the order of $130 billion by the end of the decade,' Mr Balon said. 'The power sector alone is estimated to require investments of $300 billion to $350 billion up to the year 2000. Telecommunications could need a further $150 billion. 'The investment needs for transport are estimated to be around $300 billion to $350 billion during the same period. These figures excluded infrastructure investments in Taiwan, Japan, South Korea, Hong Kong and Singapore, he said. 'Clearly the demands are staggering and funds will have to come from a variety of sources.' 'Government, bilateral and multilateral resources are likely to be insufficient and commercial bank lending will be constrained by Bank for International Settlements regulations. 'Access to the region's debt markets will be essential . . .,' he said.