$3m funding to support 60 iTaukei projects

Sixty iTaukei landowner projects will receive support from the iTaukei Resource Owners Support and Development Fund in the 2025-2026 financial year.

Government had allocated $3million to the fund, which will support 40 new projects and 20 existing ones through Merchant Finance Limited (MFL), plus five projects through the Fiji Development Bank (FDB).

Minister for iTaukei Affairs Ifereimi Vasu said the shift from a grant-based scheme to an interest-subsidy model has been the key reform, promoting accountability while easing borrowing costs.

This was in response to a parliamentary question today from Assistant Minister for Agriculture Inosi Kuridrani. The fund targets Mataqali, Yavusa, and their companies across Fiji, with provinces including Tailevu, Macuata, Ba, and Nadi already engaged.

In the 2024-2025 period, the fund approved 11 projects worth $291,000 through MFL, while eight projects valued at $331,000 were submitted to the Ministry of Finance. The Tailevu Provincial Company secured a $3million facility through FDB with subsidised interest, and subdivision projects in Nadi and Lautoka were successfully supported.

To qualify for funding, landowning groups must be properly registered, present viable business plans with realistic cashflows, demonstrate good governance and broad landowner support, and show commitment to sustainable land use.

Mr Vasu said a Project Management Unit was being established to provide oversight, training, and monitoring to address technical capacity challenges faced by landowners.

Separately, the iTaukei Land Trust Board has supported 30 groups through its iTaukei Development Fund Facility, including 23 landowning units across nine provinces and seven co-operatives.

“Together, they provide complementary avenues for landowning groups to access finance, build enterprises, and grow wealth,” Mr Vasu said.