133 land parcels are now in the Land Bank

Minister for Lands and Mineral Resources, Jone Usamate says 133 land parcels are now in the Land Bank with a total area of around 14,964 hectares.

He says out of these 133 land parcels, 114 are iTaukei land, 6 are state land parcels and 13 freehold land parcels.

Usamate adds there are 80 registered leases administered under the Land Bank with an additional 16 lease offers that have been issued.

He reveals approximately $13.3 million has been received as revenue for the leasing of these 80 leases since 2010.

The Land Bank initiative which was implemented in 2011 is a programme designed to make more land available for productive and socio-economic purposes.

60% of signatures of a land owning unit is required before the land can be deposited in the land bank.