[File Photo]

The lack of capital has been identified as the major challenge for landowners to undertake development on their land, says the iTaukei Land Trust Board.

Chief Executive, Solomoni Nata says the organization has taken a significant stride to improve the social and economic status of landowners.

Nata says the organization has introduced the iTaukei Wealth Fund which will assist landowners to address the challenges in accessing capital.

“TLTB has set aside 10% of all its income as welfare, iTaukei Wealth. So we are glad that the government considered the notion and also decided to support TLTB to implement the welfare.”

TLTB Chief Executive, Solomoni Nata

Nata says the proposed master plan for the use of land serves as a guide for landowners to utilize and maximize the opportunities available on their land.

“What we need to provide them is to have a plan and also a capital … they have the land, they lack the capital. So what we are doing, once we have the land use plan, then we’ll zoom down to the land use plan.”

The iTaukei Wealth Fund provides capital to landowners through the iTaukei Development Fund with grants ranging from $5,000 to $1.5 million.