One belt one road, also known as the Belt and Road Initiative (BRI) is a project initiated by the

Chinese
President Xi Jinping. Its objective is to build trade routes between China and the countries in Central
Asia, Europe and Indo-Pacific littoral countries. (Littoral countries means situated on the shore of
Indian and the Pacific Ocean).

The OBOR initiative has been bifurcated into two parts:

1. The belt refers to the Silk Road Economic Belt which is land based. It will connect
China with Central Asia, Eastern and Western Europe.
2. The road refers to the 21st Century Maritime Silk Road which is sea based. It will
connect China to South-East Asia, Africa and Central Asia.

OBJECTIVES OF CHINA BEHIND THIS INITIATIVE:

1. China wants to develop international clout by expanding its influence. It feels isolated as it is
not a part of G7 countries. Hence, OBOR will enable China to exert greater regional influence.

2. The GDP of China has slowed down in the recent years. China expects the OBOR
initiative to boost its GDP by boosting trade. China will find new markets for its product.

3. The Chinese model of growth had been investment led. It has led to excess capacity.
This excess capacity will be channelised effectively if China ventures into newer
markets for its export.

Bangladesh formally joined the Chinese OBOR initiative during President Xi Jinping's visit to the
country in October 2016. Within the larger framework of OBOR, economic integration between
Bangladesh and China is expected to grow.

Gowher Rizvi, international affairs advisor to the prime minister, said Bangladesh is extremely
fortunate to have two fast developing countries as its neighbours. Our relation with China and
India is not a zero-sum game. It is a positive game, Rizvi said.

China will provide assistance worth 60 billion yuan in the coming three years to developing
countries and international organisations participating in the Belt and Road initiative. For
instance, in addition to Chinese domestic banks, the Asian Infrastructure Investment Bank (AIIB)
will be an important financial source for Bangladesh's economic development needs, as
witnessed by the fact that one of the first four AIIB loans was for a Bangladeshi power
distribution system upgrade and expansion project (Lewis, 2016).