According to a statement from IFC, the equity investment fund will assist small and medium enterprises in enhancing their ability to address challenges related to climate change. The fund is a part of SEAF BV and has received support from the Climate Investment Funds-Pilot Programme for Climate Resilience, which aims to help developing countries improve their climate resilience. SEAF BV, established in 2010 by IFC and the Small Enterprise Assistance Funds, focuses on investing in SMEs. SEAF's CEO and co-founder, Hubertus Jan (Bert) van der Vaart, expressed gratitude for IFC's ongoing support, emphasizing that it will enable the fund to invest in activities that promote climate resilience for small businesses, allowing them to better withstand the negative effects of climate change. The IFC stated that it had previously put $12 million of equity into the fund in order to stimulate investment in high-growth SMEs.