Explanation:

The correct answer is option D, i.e., both (a) and (b) are correct.

(a) The ‘One Belt One Road’ Initiative (OBOR) is a Chinese development strategy that focuses on connectivity and cooperation between Eurasian countries, primarily China, the land-based Silk Road Economic Belt, and the oceangoing Maritime Silk Road. The initiative was launched in 2013 by Chinese President Xi Jinping.

(b) The China-Pakistan Economic Corridor (CPEC) is a flagship project of the ‘One Belt One Road’ Initiative. It is a collection of infrastructure projects that are currently under construction throughout Pakistan since 2013. The CPEC aims to connect Gwadar Port in southwestern Pakistan to China’s northwestern region of Xinjiang, via a network of highways, railways, and pipelines. The project is expected to bring development to Pakistan's economy, as well as enhance regional connectivity.

The ‘One Belt One Road’ Initiative and the China-Pakistan Economic Corridor are both significant for the economic development and connectivity of the Eurasian region. The projects, however, have been criticized by some for their potential environmental impact, financial risks, and geopolitical implications.

In conclusion, both (a) and (b) are correct, and they highlight the importance of the ‘One Belt One Road’ Initiative and the China-Pakistan Economic Corridor for the Eurasian region.