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The iTaukei Land Trust Board will now be providing capital funding to assist 10 landowners in establishing and running their businesses.

Minister for iTaukei Affairs Ifereimi Vasu has announced today that TLTB is providing $4 million to the village clan or tribe landowning unit and $1 million to individual landowners.

The Minister reiterates the importance of this initiative in enhancing iTaukei businesses and fostering their growth.

Vasu says the challenge faced by many resource owners who aspire to start their businesses is the lack of necessary capital to do so.

“For these land-owning units and the individuals, they want to develop their resources but unfortunately, they don’t have the funds. They have been receiving lease all this time but the lease money has just come in, they’re using what are their day-to-day living.”

Vasu believes the new initiative by the TLTB is designed to address this gap, offering financial assistance to selected applicants.

He explains that the initiative will initially benefit ten selected applicants who will receive the necessary financial support from TLTB.

The new funding program will also be made available to other landowners seeking to venture into business.