LUSAKA: The World Bank on Friday expressed satisfaction over Zambia's economic recovery program and pledged to support it to help the southern African nation stabilize its economy.

Visiting World Bank Group Vice President for the African Region Makhtar Diop said the bank was happy with the steps the government has taken in its recovery program and was fully behind the move by the authorities to seek a financial bailout from the International Monetary Fund (IMF), reports Xinhua.

In remarks delivered when he paid a courtesy call on President Edgar Lungu, the World Bank vice-president expressed optimism that the recovery plan would help to stabilize and grow the economy which faced sluggishness in 2015 and 2016.

The World Bank, he said, was ready to supplement government efforts in its development agenda and announced that 600 million U.S. dollars under its International Development Assistance(IDA) was available for Zambia to access over a period of three years.

The financing facility represents a 74 percent increase from the previous one and among the key components include 200 million dollars towards the rehabilitation of feeder roads in rural parts of the country and a further 150 million dollars as direct budget support.

On his part, the Zambian thanked the World Bank for its continued support to the country's development agenda over the years.

He however called on the World Bank to increase its support to social sectors such as the country's social protection scheme.

The World Bank vice-president arrived in Zambia on Thursday for a three-day visit to hold consultative meetings with the government and other stakeholders on the country's development priorities and the bank's future support.

He is also expected to visit the eastern part of the country to learn about Zambia's experience in building resilient rural livelihoods aimed at mitigating the effects of climate change through sustainable land management practices.

Zambia announced an economic recovery plan dubbed "Zambia Plus" aimed at ensuring sustained and inclusive growth.

The government has since initiated talks with the IMF for a possible bailout program which was expected to be concluded in the first half of this year.