$12.5m lease money sitting in Trust
July 28, 2016 5:22 am
More than 30,000 young i’Taukei landowners will have access to their lease monies they turn 18.
The i’Taukei Land Trust Board is depositing $12.5 million in trust for young
landowners registered in the Vola ni Kawa Bula.
The amount currently held in trust differs for each person and ranges up to $99,000.
A government statement confirms when the time comes they will also provide these young landowners with proper advice to manage the funds effectively.
Prime Minister and Chair of the TLTB, Voreqe Bainimarama described the move as an important breakthrough in efforts to ensure that lease money from is distributed fairly and equally and empowers individual beneficiaries.
He says instead of spending lease monies, they are encouraging a culture of savings and investment among the i‘Taukei.