The Romanian economy will grow by 0.9 percent in 2011, director of the European Bank for Reconstruction and Development's (EBRD) Bucharest-based office told Agerpres in an exclusive statement.

Claudia Pendred said 'the economy obviously continues to suffer from the global crisis effects and we estimate that in 2010 the real GDP dropped in Romania by minus 2 percent. In 2011, Romania's economy will slightly recover, as it is to record modest 0.9 percent growth'.

She stressed that in Romania, the EBRD is conducting some of the broadest operations in its area of activity, having backed its economic development and transition to full market economy since 1992.

In the last two years, the EBRD has significantly increased its activity in this country, supporting it to cope with the challenges brought about by the financial crisis and to dampen the effect of the diminished foreign capital inflows, Pendred added.

The EBRD in 2009 and 2010 significantly increased its exposure in Romania, having signed projects totalling 1.3 billion euros, with projects amounting to nearly 600 million euros being signed in 2010 alone.