IFC mulls $15m convertible debt investment in Cambodian insurer Forte

Phnom Penh, Cambodia. Photo by Mark on Unsplash

The International Finance Corporation (IFC), a part of the World Bank Group, is likely to extend a convertible senior debt investment of up to $15 million to Singapore-headquartered FIG3 Investment Holding Ptd Ltd (Forte), which operates in the insurance sector through its subsidiaries in Cambodia and Laos.

The insurer will use the financing to boost capital position, expand product suite and enhance reach in emerging markets in SE Asia, IFC said in a disclosure.

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