Chinese economy which reportedly grew at a healthy rate last year despite Covid is facing headwinds. It has borrowed from the BRICS Bank and Bangladesh has decided to drop projects that China was earlier earmarked to support via loans.The BRICS New Development Bank (NDB) has announced that it approved 7 billion yuan (about 1.08 billion U.S. dollars) of emergency assistance program loans to support China’s economic recovery from COVID-19.The loan is the second emergency loan approved by the NDB to help China fight the epidemic, following the seven-billion-yuan loan approved and disbursed in 2020, according to a Xinhua report.The program will support the restoration of production activities and stable employment in the country and promote sustainable economic development, according to Xinhua.In April 2020, the bank set up a mechanism to offer emergency assistance program loans to its member countries, assisting them in combating the pandemic. It has so far approved seven anti-virus-related emergency loans, totalling about seven billion US dollars.Meanwhile Bangladesh has decided to drop China from five projects that Beijing was scheduled to fund.The projects were decided during Chinese President Xi Jinping’s Dhaka visit in October 2016 and comprise Dhaka-Sylhet four lane highway project involving $2,110 million, extension of Barapukuria coal mine’s existing underground operations involving $256.41 million, Bangladesh Power Development Board’s distribution zones ($521.56 million), Gazaria 350-megawatt coal-fired thermal power plant ($433.00 million) and balancing, modernisation, rehabilitation and expansion of public jute mills of Bangladesh Jute Mills Corporation ($280 million).The Dhaka-Sylhet four-lane project was removed from the list over corruption issues and a multilateral lender has agreed to provide the fund. The remaining three projects are not on the government’s priority list.At the National People’s Congress Chinese Premier Li Keqiang unveiled a conservative target for economic growth this year of above 6% that signals more restrained monetary and fiscal policies this year. But China’s new five-year plan that runs through 2025 didn’t give a numeric target for average growth.