UK’s development finance institution CDC Group, an investor in a number of Myanmar businesses, has appointed Myo Zin as its new country representative in the Southeast Asian nation.
Based in Yangon, Myo will work closely with CDC’s teams in the London and India office and will play an instrumental role in expanding CDC’s footprint across Myanmar, the investor said in a statement.
Myo will focus on broadening CDC’s capital investments in Myanmar and support active in-country portfolio management. He will help strengthen CDC’s partnership with local businesses as well as facilitate the organisation’s commitment to increasing investment flows to the country and advancing the development of Myanmar’s private sector.
“Providing flexible and counter-cyclical financing will help to enable sustainable business growth, develop a responsible private sector ecosystem, bolster job creation and improve the lives of millions of people in the country,” CDC said.
Myo has garnered over eight years of experience in the financial services sector, as a former country representative and investment lead for Myanmar at Luminate and Omidyar Network, a former manager at PwC Myanmar, and former senior manager at Kanbawza Bank.
“Myo’s experience and knowledge of the country’s economic and financial landscape will be vital in solidifying our partnership with businesses and will help us to mobilise much-needed growth capital to support sustained development and enhance economic opportunities for the people of Myanmar,” commented Srini Nagarajan, Head of Asia at CDC.
The development finance institution has also appointed Thura Ko Ko, founding partner of Myanmar advisory firm YGA Capital, as a local advisor. Thura will support Myo and other CDC teams in expanding CDC’s network, investing capital and promoting the development of the private sector in Myanmar, CDC said.
The UK-based organisation is a limited partner in funds managed by local general partners such as Delta Capital Myanmar and Anthem Asia. It directly invested in telecom company Frontiir and Irradwaddy Green Towers. It has also backed the formation of the Myanmar Private Equity and Venture Capital Association.
CDC said this year it will invest over $1.5 billion in companies across Africa and Asia with a focus on fighting climate change, empowering women and creating new jobs and opportunities.