“金砖银行”是对西方金融体系的有益补充

 　　The newly established New Development Bank, known as the BRICS Bank, will be on top of the agenda at the BRICS summit.

　　The bank, initialized last year at the sixth summit in Brazil, endeavors to help financing infrastructure¹ and sustainability in the bloc² and other developing countries.

　　Subir Gokarn, director of Brookings India, believes that BRICS bank will play an important role in India's infrastructure funding needs.

　　"Firstly it is the first concrete institution manifestation³ of the BRICS. So far, the BRICS has only been a grouping but it has not had anything concrete emerging from it. And this reflects the strongest bond, commonality between these countries because they are all basically strong, large economies who have very specific needs in terms of infrastructure development and so on. And the BRICS bank actually is going to provide an alternative channel for funding to be provided for these purposes."

　　金砖银行有益西方金融体系

　　The Shanghai-based Bank will have initial authorized⁴ capital of 100 billion U.S. dollars, and its initial subscribed⁵ capital of 50 billion U.S. dollars will be equally shared among the founding members.

　　In addition, the bank has set up a contingency⁶ fund of 100 billion US dollars to help BRICS countries to cushion short-term liquidity⁷ pressure.

　　Of the fund, China will provide 41 billion US dollars to the capital stock; India, Brazil and Russia each pay in 18 billion, and South Africa 5 billion.

　　Gao Fei, a professor at China Foreign Affairs University, says the bank and the fund will complement⁸ the existing global financial mechanisms⁹.

　　"The current global financial system is a legacy¹⁰ of WWII, and reflects the post-war economic situation. But now 70 years has passed. The situation has changed dramatically with the increasing growth of emerging economies and developing countries. The western-led system has lagged behind the world financial and economic development. I think the BRICS bank and the contingency fund will add new impetus¹¹ to the long-term, stable and continued growth of the world economy. "

　　The board of governors of the NDB has held its first meeting in Moscow during which members of the board of directors were appointed.

　　In addition, 68-year-old K.V Kamath, former Indian private banker, has been named as the first president of the BRICS bank.

　　Russian Finance Minister Anton Siluanov says the BRICS New Development Bank will work with other international financial institutions to promote infrastructure construction of the member countries.

　　"The initiation¹² of a new bank will bring new funds and programs. This BRICS New Development Bank will benefit not only Russia but also all the other member countries. More projects will have funding with such international financial organizations. It will stimulate¹³ the development of the world economy."

　　The BRICS nations, accounting¹⁴ for about one fifth of the world GDP, have committed to making the bank a more inclusive, democratic and transparent¹⁵ international financial agency.

　　The bank will soon be open to all UN member nations besides its founding countries.

　　It will start operating at Lujiazui, Shanghai's financial hub, at the end of this year.

　　The BRICS leaders are expected to map out the first five-year plan during the Summit for the bank in Ufa.

　　For CRI, this is Qian Shanming.

1 infrastructure   

n.下部构造，下部组织，基础结构，基础设施

参考例句：

• We should step up the development of infrastructure for research.加强科学基础设施建设。
• We should strengthen cultural infrastructure and boost various types of popular culture.加强文化基础设施建设，发展各类群众文化。

2 bloc   

n.集团；联盟

参考例句：

• A solid bloc of union members support the decision.工会会员团结起来支持该决定。
• There have been growing tensions within the trading bloc.贸易同盟国的关系越来越紧张。

3 manifestation   

n.表现形式；表明；现象

参考例句：

• Her smile is a manifestation of joy.她的微笑是她快乐的表现。
• What we call mass is only another manifestation of energy.我们称之为质量的东西只是能量的另一种表现形态。

4 authorized   

a.委任的，许可的

参考例句：

• An administrative order is valid if authorized by a statute.如果一个行政命令得到一个法规的认可那么这个命令就是有效的。

5 subscribed   

v.捐助( subscribe的过去式和过去分词 )；签署，题词；订阅；同意

参考例句：

• It is not a theory that is commonly subscribed to. 一般人并不赞成这个理论。 来自《简明英汉词典》
• I subscribed my name to the document. 我在文件上签了字。 来自《简明英汉词典》

6 contingency   

n.意外事件，可能性

参考例句：

• We should be prepared for any contingency.我们应该对任何应急情况有所准备。
• A fire in our warehouse was a contingency that we had not expected.库房的一场大火是我们始料未及的。

7 liquidity   

n.流动性，偿债能力，流动资产

参考例句：

• The bank has progressively increased its liquidity.银行逐渐地增加其流动资产。
• The demand for and the supply of credit is closely linked to changes in liquidity.信用的供求和流动资金的变化有密切关系。

8 complement   

n.补足物，船上的定员；补语；vt.补充，补足

参考例句：

• The two suggestions complement each other.这两条建议相互补充。
• They oppose each other also complement each other.它们相辅相成。

9 mechanisms   

n.机械( mechanism的名词复数 )；机械装置；[生物学] 机制；机械作用

参考例句：

• The research will provide direct insight into molecular mechanisms. 这项研究将使人能够直接地了解分子的机理。 来自《简明英汉词典》
• He explained how the two mechanisms worked. 他解释这两台机械装置是如何工作的。 来自《简明英汉词典》

10 legacy   

n.遗产，遗赠；先人(或过去)留下的东西

参考例句：

• They are the most precious cultural legacy our forefathers left.它们是我们祖先留下来的最宝贵的文化遗产。
• He thinks the legacy is a gift from the Gods.他认为这笔遗产是天赐之物。

11 impetus   

n.推动，促进，刺激；推动力

参考例句：

• This is the primary impetus behind the economic recovery.这是促使经济复苏的主要动力。
• Her speech gave an impetus to my ideas.她的讲话激发了我的思绪。

12 initiation   

n.开始

参考例句：

• her initiation into the world of marketing 她的初次涉足营销界
• It was my initiation into the world of high fashion. 这是我初次涉足高级时装界。

13 stimulate   

vt.刺激，使兴奋；激励，使…振奋

参考例句：

• Your encouragement will stimulate me to further efforts.你的鼓励会激发我进一步努力。
• Success will stimulate the people for fresh efforts.成功能鼓舞人们去作新的努力。

14 accounting   

n.会计，会计学，借贷对照表

参考例句：

• A job fell vacant in the accounting department.财会部出现了一个空缺。
• There's an accounting error in this entry.这笔账目里有差错。

15 transparent   

adj.明显的，无疑的；透明的

参考例句：

• The water is so transparent that we can see the fishes swimming.水清澈透明，可以看到鱼儿游来游去。
• The window glass is transparent.窗玻璃是透明的。