On the Right Road
How the belt and road initiative is transforming africa
in 2013, an ambitious program by the Chinese Government known as the Belt and Road Initiative was launched, focusing on promoting policy coordination, connectivity of infrastructure and facilities, unimpeded trade, financial integration, and strengthened people-to-people ties through a consultative process and joint efforts, with the goal of bringing benefits to all. The Belt and Road Initiative or yidai yilu comprises the Silk Road Economic Belt and the 21st Century Maritime Silk Road.
The main reason behind the launch of the Belt and Road Initiative was to strengthen China’s connectivity with the rest of the world. The Belt and Road Initiative consists of two major parts: the “Belt,” which recreates an old Silk Road land route, and the “Road,” which is not actually a road, but a route through various oceans. The Belt and Road Initiative has emerged as China’s multi-billion-dollar initiative with gigantic marketing campaign to promote winwin cooperation across the globe. The Belt and Road Initiative targets five main areas: policy, infrastructure, trade, finance and people-to-people exchange. It combines new and old projects, covers an expansive geographic scope, and includes efforts to strengthen hard infrastructure, soft infrastructure and cultural ties.
Currently, the Belt and Road Initiative uptake has grown to include countries with a combined GDP of more than $23 trillion and more than half of the total global population. Last year, during the Belt and Road Forum for International Cooperation held in Beijing under the theme “Strengthening International Cooperation and Co-building the Belt and Road for Win-win Development,” Chinese President Xi Jinping was confident that the Belt and Road Initiative will deliver greater benefits to people across the world. He also noted that, at the time, 68 countries and international organizations had signed the Belt and Road cooperation agreement with China, with roundtable discussions bringing together heads of the United Nations units, the World Bank Group and the International Monetary Fund. The Belt and Road