The Silk Road Economic Belt and the 21st-century Maritime Silk Road is also known as the One Belt, One Road initiative (OBOR). The “One Belt” refers to the Silk Road Economic Belt while the “One Road” refers to the 21st-century Maritime Silk Road.
OBOR is the brainchild of the Chinese President Xi Jinping. Just after six months of taking responsibility as the President of China, he visited Central Asia in September 2013. During his speech in Kazakhstan, he unveiled for the first time, the OBOR initiative. OBOR is in a diversion from Deng Xiaoping's policy dictum of "hide our capabilities and bide our time; never try to take the lead".
This ambitious plan aims to link China with Europe, and so far it involves 68 countries. During the two-day summit in May 2017, which was attended by leaders from 29 countries, Mr Xi Jinping pledged $124 billion for OBOR.
Among other benefits, OBOR will specifically develop infrastructure in the participants countries in the form of rail network, roads, transportation, port facilities, power, IT, communication, retail industries, distributions, etc