2023年全國碩士研究生考試考研英語一試題真題（含答案詳解+作文范文）_第1頁
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1、本科畢業(yè)論文（設(shè)計）外文翻譯原文：原文：BuildOperateTransferinInfrastructureProjectsIntheUnitedStatesPublicfacilitiesknownasinfrastructurearevitaltothenation’sproductiondistributionofeconomicoutputaswellastoitscitizens’overallqualityoflife.

2、Infrastructureincludeshighwaysrailwaysptstunnelsbridgespowerplantshydraulicstructuresmasstransitmunicipalfacilitiessimilarpublicfacilitieswiththeprimaryfunctionofservingpublicneedsprovidingsocialservicespromotingprivatee

3、conomicactivities.Havingadequateinfrastructurerequireshavingadequatefundingtoconstructmaintainthatinfrastructure.Ingeneralimplementinginfrastructureprojectsrequirealargecapitalinvestment.Thefinancingofinfrastructureproje

4、ctshasgainedimptanceasthesizecomplexityoftheseprojectsincreasedinthelast2decades.Theimmediateneedfsuchprojectscoupledwithchronicbudgetshtagesexperiencedbypublicagenciesencouragedtheuseofinnovativefinancing.Eventhoughpubl

5、icownersarenmallyresponsiblefprovidingfinancinginsomecasesfinancingmayberelegatedtoanoutsideparty’sresponsibility.Inthisregardbuildoperatetransfer(BOT)hasestablisheditselfasavaliddeliveryfinancingsystemwherebyaprivatespo

6、ns(anindividualprivateentityaconstiumofinvests)financesthedesignconstructionmaintenanceoperationofapublicprojectfaspecifiedconcessionperiodattheendofwhichittransfersownershiptothegovernmentagencyhopefullyafterrecoupingit

7、scostsachievingprofits.ThemainideabehindusingBOTistoalleviatethespendingongovernments’budgetsbyseekingcapitalfromexternalfinanciersespeciallyonlargescaleprojects.TheBOTcontractualarrangementprovidesamechanismfusingprivat

8、efinancethusitTheobjectivesofthisstudyaretodeterminetowhatextentgovernmentagenciesintheUnitedStatesareusingBOTintheirlargeprojectstoinvestigatetheimplementationofBOTthereasonswhysomegovernmentagenciesavoidusingBOT.Projec

9、tfinancinginvolvestheraisingoffundstofinanceaneconomicallyfeasiblecapitalinvestmentprojectbyissuingsecuritiesthataredesignedtobeservicedredeemedexclusivelyoutofprojectcashflow.Projectfinancingrequirescarefulfinancialengi

10、neeringtoallocatetheriskrewardsamongtheinvolvedpartiesinamannerthatisacceptabletoallparties.Infrastructureprojectsareusuallyconsideredtobenecessaryfindustrializationeconomicgrowthhavebeentraditionallythegovernment’srespo

11、nsibility.Theseprojectsmainlycauselargebudgetdeficitsdebtscutbacksinothersectssuchashealtheducationsocialwelfare.BOTmaybeusedwhentheaginginfrastructureneedstobeimprovedeventhoughthegovernmentisstrappedfrevenues(rapidlygr

12、owingdeminservicesfinancialshtage).Manysourcesofcapitalfprojectfinancingareavailableincludingnationalcommercialbanksleasingcompaniesinstitutionalinvestsindividualsinvestmentmanagementcompaniesfeigninvestscustomerssupplie

13、rsgovernmentagenciesexptagenciesinternationalagencies.ButthepubliccustomermustdecidewhetheritcanaffdtofinancetheprojectwithitsowndebtwhetheradifferentfinancingapproachsuchasBOTwouldbepreferable.Thepubliccustomerwouldweig

14、hthetradeoffswithrespecttoqualitycostschedule.Ifresourcesarelimitedthenaninnovativeprojectdeliveryfinancingmethodisneeded.AfterWldWarIImostpublicprojectswerebuiltundergovernmentsupervisionfinancing.Analternativewaywasnee

15、dedinthe1980sduetosomedramaticchangesparticularlyindevelopingcountries.Firsttheinfrastructureneededtobeupgradedduetopopulationeconomicgrowth.Secondthegrowingdebtofdevelopingcountrieshadlimitedbrowingcapacitybudgetaryreso

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