Egypt’s Minister of International Co-operation Rania el Mashat took the oath before President Abdel Fattah El Sisi at the Ittihadiya Palace on Wednesday.
Mashat doubles as minister of planning and economic development, succeeding Dr. Hala el Saeed.
Mashat has been part of Egypt’s cabinet of ministers since 2018, where she served as the Minister of International Cooperation since December 2019 and had previously served as the first female Minister of Tourism (Jan 2018 -Dec 2019).
She enjoys more than 20 years of international experience in central banking, financial systems, monetary policy frameworks, international cooperation policies and strategies, sustainable development, and climate finance.
Mashat developed Egypt’s Country Platform for the Nexus of Water, Food, and Energy «NWFE» to leverage Egypt’s international partnerships and mobilize climate finance to accelerate the green transition.
She served at the Central Bank of Egypt (CBE), as the Sub-Governor for Monetary Policy (Aug. 2005-Jun.2016), where she contributed to modernizing the CBE’s monetary policy strategy underpinned by structural reforms to formally adopt an inflation-targeting regime, a key pillar of the banking sector reform program launched in 2004.
Furthermore, the minister participated in the country’s macroeconomic management through the design and update of the macroeconomic framework in conjunction with other ministries and government entities and was the CBE’s liaison with the International Monetary Fund (IMF) and the Sovereign Rating Agencies.
She worked at the International Monetary Fund in Washington DC as Advisor to the Chief Economist (Aug 2016- Jan 2018), and Senior Economist (2001-2005).
Mashat served in several board affiliations, including the Egyptian Stock Exchange, the Egyptian General Authority for Free Zones and Investment, the Arab International Bank and the Arab Investment Bank.
In her capacity as Minister of International Cooperation, she represented Egypt as Governor in several international financial institutions, including the World Bank Group, European Bank for Reconstruction and Development, Arab Fund for Economic and Social Development, and Arab Bank for Economic Development; and as Alternate Governor of Egypt at the African Development Bank, Asian Infrastructure Investment Bank, Islamic Development Bank and the New Development Bank as Egypt joined as a new member in 2023.
Mashat is a member of several Advisory councils and international alliances; Founding Member of the Resilience Consortium of the World Economic Forum (WEF), Member of Mission Possible for Climate Action (WEF), Co-Chair of the MENA Stewardship Board (WEF), Member of the New Economy and Society Stewardship Board (WEF), Advisory Member of the Centre for the New Economy and Society (WEF), Member of the Giving to Amplify Earth Action (GAEA) initiative (WEF) and the Co-chair of the Network to Mobilize Investment for Clean Energy in the Global South (WEF).
Moreover, she is a board member of the United Nations International Children’s Emergency Fund (UNICEF) GenU, and a Founding Member of the Global Energy Alliance for People and Planet (GEAPP) launched by the Rockefeller Foundation.
Mashat is a member of several research centers and think tanks as she serves as a member of Bruegel’s Scientific Council, Board member of the Dean’s Strategic Advisory Board at the School of Business (AUC), Board Member of the Middle East Economic Association (MEEA), Founding Member of Egypt Network for Integrated Development (ENID), Research Fellow at the Economic Research Forum for Arab countries, Iran and Turkey, and member of the Middle East Economic Association.
Mashat received several international and domestic awards; the 2022 Most Visionary and Outstanding Minister of International Cooperation in Africa” by the Elliott School of International Affairs George Washington University and the GE7 Initiative.
She also received the “2019 Global Champion Award” from the World Tourism and Travel Council for launching the Egypt—Tourism Reform Program that has created resilience to the sector; the “2019 Global Leader’s Award for Outstanding Contribution to the Industry” as Egypt’s tourism revenues recorded a new historical high and the “2019 United Nations World Tourism Organization Destination Marketing Award”, for best promotion video for a destination.
In 2015, she was selected as one of the top 50 most influential women in the Egyptian economy in 2015 & 2020, she was also selected for the “Choiseul Institute 100 Africa: Economic Leaders for Tomorrow” award in 2014&2015.
Mashat was also selected for the 2014 Young Global Leaders (YGL) by the World Economic Forum (WEF) and selected among the 2014 top 10 most powerful women in the Egyptian Banking Sector in the survey conducted by the Bassera Center and selected by the Government of France’s 2013 International Visitor Leadership Program.
Furthermore, she received the 2013 Distinguished Alumni Award from the School of Business at the American University in Cairo and received the 2004 Ibn Khaldoun prize for the best paper on one or more Middle Eastern countries given by the Middle East Economic Association, titled “Monetary Policy and Public Debt Management: An Empirical Assessment of the Egyptian Experience”.
She received her PhD and MA in Economics from the University of Maryland, College Park USA on the application of macroeconomics, international economics, and monetary policy, and received her BA in Economics from the American University in Cairo (AUC).
She completed Executive Education certificates in Leadership and Public Policy from the Kennedy School of Government at Harvard University and Transformational Leadership from Said Business School at Oxford University.
