2018年CRI New Development Bank pledges support for African development

 

A senior official with the New Development Bank, the multilateral bank jointly¹ launched by the BRICS countries, is pledging more efforts to promote the development of African countries.

The BRICS-led New Development Bank has been committed to financing infrastructure² and sustainability projects in BRICS and other developing countries since its establishment in 2014.

The bank opened the Africa Regional Center in Johannesburg last August, taking it as a gateway³ to participate in the development of the African continent.

Leslie Maasdorp, Vice⁴ President and Chief Financial Officer of the BRICS-led New Development Bank, says the Africa Reginal Center plays an important role in facilitating projects to South Africa.

"One of the principal motivations behind the African Regional Center is to increase the pipeline⁵ of bankable projects from South Africa. A you know, the headquarters of the New Development Bank is based in Shanghai. Shanghai is far from South Africa. So having a local presence here will enable us and have already enabled us to accelerate the pace of bringing new projects to the bank.”

Upon the establishment of the Africa Regional Center, a lending of 1.5 billion US dollars was announced to fund infrastructure projects in South Africa within an eighteen months period. And so far the bank has already approved three projects in South Africa, including the reconstruction⁶ of the Durban port.

Leslie Maasdorp says the projects not only benefit South Africa, but also boost the development of the African continent.

"The Durban port is the main port for import and export in South Africa. By expanding the port, we're able to significantly increase the potential for South Africa to export goods to China, to all parts of world. So it has a very strong impact, stimulating⁷ growth in South Africa. It can also stimulate⁸ trade and investment in the region."

It's reported the bank is set to lend up to between 70 billion and 80 billion US dollars in the next five years in South Africa.

The bank is also teaming up with other financial institutions such as the African Development Bank to co-finance projects to support Africa's development.

1 jointly   

ad.联合地，共同地

参考例句：

• Tenants are jointly and severally liable for payment of the rent. 租金由承租人共同且分别承担。
• She owns the house jointly with her husband. 她和丈夫共同拥有这所房子。

2 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。

3 gateway   

n.大门口，出入口，途径，方法

参考例句：

• Hard work is the gateway to success.努力工作是通往成功之路。
• A man collected tolls at the gateway.一个人在大门口收通行费。

4 vice   

n.坏事；恶习；[pl.]台钳，老虎钳；adj.副的

参考例句：

• He guarded himself against vice.他避免染上坏习惯。
• They are sunk in the depth of vice.他们堕入了罪恶的深渊。

5 pipeline   

n.管道，管线

参考例句：

• The pipeline supplies Jordan with 15 per cent of its crude oil.该管道供给约旦15%的原油。
• A single pipeline serves all the houses with water.一条单管路给所有的房子供水。

6 reconstruction   

n.重建，再现，复原

参考例句：

• The country faces a huge task of national reconstruction following the war.战后，该国面临着重建家园的艰巨任务。
• In the period of reconstruction,technique decides everything.在重建时期，技术决定一切。

7 stimulating   

adj.有启发性的，能激发人思考的

参考例句：

• shower gel containing plant extracts that have a stimulating effect on the skin 含有对皮肤有益的植物精华的沐浴凝胶
• This is a drug for stimulating nerves. 这是一种兴奋剂。

8 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。