The Belt and Road Initiative (BRI) is a global infrastructure development strategy adopted by the Chinese government in 2013 to invest in more than 150 countries and international organizations in Asia, Europe, Africa, and the Middle East. The initiative is also known as the One Belt One Road (OBOR) or the New Silk Road. The Belt refers to the overland Silk Road Economic Belt, which connects China with Central Asia, Russia, and Europe, while the Road refers to the 21st Century Maritime Silk Road, which connects China with Southeast Asia, South Asia, the Middle East, and Africa. The BRI aims to improve physical infrastructure through land corridors that roughly equate to the old Silk Road, including ports, skyscrapers, railroads, roads, bridges, airports, dams, coal-fired power stations, and railroad tunnels. The initiative addresses an "infrastructure gap" and has the potential to accelerate economic growth across the Asia Pacific, Africa, and Central and Eastern Europe.
The Belt and Road Initiative has been associated with a very large program of investments in infrastructure development for ports, roads, railways, and airports, as well as power. The initiative has stoked opposition in some Belt and Road countries that have experienced debt crises, and some analysts see the project as a disturbing expansion of Chinese power. However, China views BRI projects as a commercial endeavor that assists developing countries by providing cheap finance for new infrastructure, creating wealth development opportunities, and indirectly helping lift people out of poverty.
In summary, the Belt and Road Initiative is a global infrastructure development strategy adopted by the Chinese government in 2013 to invest in more than 150 countries and international organizations in Asia, Europe, Africa, and the Middle East. The initiative aims to improve physical infrastructure through land corridors that roughly equate to the old Silk Road, including ports, skyscrapers, railroads, roads, bridges, airports, dams, coal-fired power stations, and railroad tunnels. While the initiative has stoked opposition in some Belt and Road countries that have experienced debt crises, China views BRI projects as a commercial endeavor that assists developing countries by providing cheap finance for new infrastructure, creating wealth development opportunities, and indirectly helping lift people out of poverty.