IFC, a member of the World Bank Group, stated on Tuesday that the equity investment fund will enhance the ability of SMEs to address challenges related to climate change. This fund is a part of SEAF BV, with assistance from the Climate Investment Funds-Pilot Programme for Climate Resilience. SEAF BV, established in 2010 by IFC and the Small Enterprise Assistance Funds, focuses on investing in SMEs. Hubertus Jan (Bert) van der Vaart, CEO and co-founder of SEAF, emphasized the importance of IFC's ongoing support in the fund's successful initiatives. Additionally, IFC's involvement will enable the fund to invest in climate resilience activities for small businesses, aiding SMEs in managing the negative effects of climate change. The IFC stated that it had previously injected $12 million of equity into the fund in order to stimulate investment in high-growth SMEs.