The Belt and Road Initiative (BRI), also known as the One Belt One Road (OBOR) project, is a massive infrastructure and development project initiated by President Xi Jinping and the Chinese government in 2013.
The BRI consists of two main components: a Silk Road Economic Belt (a trans-continental passage that links China with south east Asia, south Asia, Central Asia, Russia, and Europe by land) and a 21st century Maritime Silk Road (a sea route connecting China’s coastal regions with south east and south Asia, the South Pacific, the Middle East and Eastern Africa, all the way to Europe).
The initiative defines five major priorities:
• policy coordination
• infrastructure connectivity
• unimpeded trade
• financial integration
• and connecting people
As of 2023, the BRI has been implemented in over 145 countries and regions, with an estimated total investment of over US$4 trillion:
• 44 in Sub-Saharan Africa
• 35 in Europe & Central Asia
• 25 in East Asia & Pacific (including China)
• 21 l in Latin America & Caribbean
• 18 in Middle East & North Africa
• 6 are in South East Asia
The BRI also works with 18 countries of the European Union (EU) and 9 countries of the G20.
The BRI plays a major role in the Level Playing Field: “African nations may see faster debt relief from China than the West”
China to forgive 23 ‘belt and road’ loans to 17 African countries
China spent $240 billion bailing out 'Belt and Road' countries
China helps Africa substantially with debt cancellation, restructuring
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