Vaka Tautua Applauds Government’s Financial Capability Fund Announcement
Vaka Tautua Financial Literacy Graduates
Vaka Tautua is thrilled about the Government’s Pacific financial capability funding that was announced today as part of its $41.25 million Pacific Housing initiative. Called the Pacific Building Financial Capability Fund, the funding will enable Pacific organisations to deliver financial capability programmes, tools and resource to Pacific communities, creating pathways towards home ownership.
Vaka Tautua has been delivering ethnic-specific financial literacy and capability programmes in the Auckland and Wellington regions for four years, and knows the positive impact these programmes can have on Pacific peoples’ lives. A recent evaluation of one it is Auckland programmes showed sixty three percent of the participating families (392 families) are on saving plans to purchase their own home. Sixty-four percent (403) are also on saving plans to purchase assets that will generate wealth over time such as shares, bonds and land.
Vaka Tautua Chief Executive Officer, Dr Amanda-Lanuola Dunlop, says the timing of the fund could not be more perfect with Pacific communities struggling from the after-effects of COVID.
“COVID-19 has exacerbated our Pacific peoples’ financial vulnerability and hardship through job losses, reduced income… We see this in our everyday work, and the calls that are being made to our free Pacific helpline 0800 OLA LELEI,” says Dr Dunlop.
“Increasing and strengthening our Pacific peoples’ financial knowledge, and supporting them so they can positive choices… and plan for a financially stronger and prosperous future for themselves and their wider aiga is crucial.”
The Pacific Building Financial Capability Fund is being administered by the Ministry of Pacific Peoples. Applications are to be made via the Ministry for Pacific Peoples website. Applications open the 26thof February 2021 and close the 2nd of April 2021.
Vaka Tautua is a national Pacific health and social services provider with a strong regional presence in the greater Auckland, Wellington, and Canterbury regions. It delivers disability, mental health, older peoples, social services, and financial capability services.