WASHINGTON, Sept 2: The World Bank is expected this week to approve a $300 million credit for Pakistan to support the implementation of its poverty reduction strategy in 2004.

The credit seeks to promote growth and employment creation, human resource development and good governance, the World Bank sources told Dawn. In its strategy paper for poverty reduction, finalized in December 2003, Pakistan had proposed four priority areas: growth in rural economy, improved governance, investing in human capital and targeting poorer and vulnerable sections of the population.

According to the strategy paper, the 1990-99 was a lost decade for Pakistan's poor with little progress being made for reducing poverty and improving social indicators. The per capita growth declined to 1.2 per cent per year, down from 3 per cent per year in the 1980s.