China’s funding of major infrastructure projects in Southeast Asia has fallen over $50 billion short of its commitments, with only a little over a third of promised funds having been delivered for projects signed over a six year period until 2021, analysis by an Australian think-tank has shown.

China is Southeast Asia’s largest infrastructure financing partner, providing funding for a number of large-scale infrastructure projects launched under China’s ambitious Belt and Road global infrastructure initiative.

But the analysis released by the Sydney-based Lowy Institute on Wednesday found just …