On the pronouns we in this entire section, see comments under the section heading.
Therefore: this word, which can also be translated as “For this reason,” returns to the thought of 3.12 and introduces a renewed discussion of that point. The sense is “Since we have such hope … we do not lose heart.” Good News Translation restructures the order of the clauses in this verse and does not maintain the connection between chapters 3 and 4. Most English versions, however, retain the transition word, and this should probably also be done in the receptor language.
The Greek word translated as ministry in Revised Standard Version is the same word translated “dispensation” in 3.7-9, diakonia. This ministry is the “ministry of the Spirit” (3.8) and “the ministry of righteousness” (3.9). Others have translated it “service” (Barclay) or “work” (the Good News for the World translation [Good News for the World] as well as Good News Translation).
By the mercy of God is literally a passive verb, “we have been mercied.” God is not explicitly identified in the Greek as the agent of the verb “to have mercy.” Most translations add the word God and thus make explicit the agent of this verb, though some do not. New American Bible says “Since we have this ministry through the mercy shown us,” though note that the first edition of New American Bible says “Because we possess this ministry through God’s mercy.” Like New American Bible, Anchor Bible does not make the agent explicit: “as recipients of mercy.” Or one may be able to say “as those who have been pardoned.” However, in most cases it will probably be better to make explicit in some manner the fact that it is God who is merciful. Contemporary English Version says “God has been kind enough to trust us with this work.”
Lose heart: the Greek word may mean “to become weary” (as it is translated in 2 Thes 3.13) or “to lose heart,” that is, “to become discouraged” (Good News Translation) or “to show fear.” In the present context the meaning “to show fear” is also possible, since this verse connects with 3.12, in which Paul says “we are very bold.” Knox follows this interpretation, translating “we do not play the coward.” The same verb is used again in verse 16 of this chapter.
In some languages it may be more natural to restructure the verse further, saying something like “So we do not give up in doing this work, because it is God who kindly gave it to us” or “Therefore we can never be discouraged, since it is the merciful God who sent us to do this work.”
Quoted with permission from Omanson, Roger L. and Ellingworth, Paul. A Handbook on Paul’s Second Letter to the Corinthians. (UBS Handbook Series). New York: UBS, 1993. For this and other handbooks for translators see here .