Belt and Road Initiative
The Silk Road Economic Belt and the 21st-century Maritime Silk Road, also known as the Belt and Road Initiative (BRI) is a development strategy proposed by China s paramount leader Xi Jinping that focuses on connectivity and Cooperation between Eurasian countries, primarily the People s Republic of China (PRC), the land-based Silk Road Economic Belt (SREB) and the oceangoing Maritime Silk Road (MSR). The strategy underlines China s push to take a larger role in global affairs, and the desire to coordinate manufacturing capacity with other countries in areas such as steel manufacturing.
Ashraf Naguib, CEO of the Asian-Egyptian Association, said that the Silk Road Economic Belt will bring investments to Egypt worth a trillion dollars in ten years, about $ 40 billion annually.