Litia Cava 
Indigenous landowners are set to benefit from a $3 million government fund aimed at boosting economic development and entrepreneurship.
Minister for iTaukei Affairs Ifereimi Vasu explained that the iTaukei Resource Owners Support and Development Fund will support 60 projects this year, including 40 new projects.
The fund operates in partnership with Merchant Finance Limited and the Fiji Development Bank.
Minister for iTaukei Affairs Ifereimi Vasu.
Vasu states the fund targets mataqali, yavusa, and their companies with clear registration, viable business plans, sound governance, landowner backing and sustainable land use.
Last year, 11 projects worth $291,000 were approved through MFL, while Tailevu Provincial Company secured a $3 million facility through FDB with subsidised interest.
A Project Management Unit will now oversee and train beneficiaries to ensure accountability and project success.
In addition, the iTaukei Development Fund, run by the iTaukei Land Trust Board has supported 23 landowning units across nine provinces and seven co-operatives.
Vasu said the TLTB carefully vets applications based on legal standing, financial health, business viability, security and broad community support to ensure only sustainable ventures are financed.
He explained that the Ministry’s fund and the TLTB’s fund work together, providing complementary avenues for landowners to unlock land value, grow enterprises and generate wealth.
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