IFC, a member of the World Bank Group, announced on Tuesday that the equity investment fund will enhance the ability of small and medium enterprises (SMEs) to address challenges related to climate change. The fund, part of the Small Enterprise Assistance Fund Bangladesh Ventures Fund (SEAF BV), is supported by the Climate Investment Funds-Pilot Programme for Climate Resilience, which assists developing countries in building resilience to climate change. SEAF BV, established in 2010 by IFC and the Small Enterprise Assistance Funds, focuses on investing in SMEs. CEO and co-founder of SEAF, Hubertus Jan (Bert) van der Vaart, expressed gratitude for IFC's ongoing support, highlighting its importance in the fund's successful initiatives. Additionally, IFC's involvement will enable the fund to engage in climate resilience investments for small businesses, aiding SMEs in mitigating the negative impacts of climate change. The IFC had previously invested $12 million of equity into the fund with the aim of stimulating investment in high-growth SMEs.