Recent projects that received money from the initiative include new air hubs at Clark Airport in the Philippines and at Hong Kong International Airport.
The incidents add another risk around the Bab el-Mandeb Strait, a critical chokepoint connecting the Gulf of Aden with the Red Sea and a key route for global shipping.
The Pinglu Canal will reportedly shorten inland waterway transportation by nearly 350 miles, reduce transportation costs by as much as $735 million annually.
Russia and Ukraine have stepped up attacks on each other’s commercial ships and ports in the Black Sea area, raising concerns about global grain supplies.