About BRI

• China’s Belt and Road Initiative aims to strengthen Beijing’s economic leadership through a vast program of infrastructure building throughout China’s neighbouring regions. 
• It was launched in 2013. 
• The plan was two-pronged: the overland Silk Road Economic Belt and the Maritime Silk Road. 
• The project initially aimed to strengthen connectivity with Southeast Asia but later expanded to South and Central Asia, Africa, Europe, and Latin America. 

Why in News?

• Italian Prime Minister Giorgia Meloni announced she was signing a three-year action plan to revive cooperation with China.
• Italy had last year pulled out of China’s Belt and Road Initiative (BRI), having been the only G7 country to sign up in 2019 to the infrastructure and transportation plan that seeks to build a sort of modern-day Silk Road.

https://www.business-standard.com/world-news/italy-signs-trade-pact-with-china-to-renew-ties-after-bri-project-exit-124072900016_1.html