Too early to say it was wasted’ – Joe Ligo defends VT180M Fund
Chairman of the 2025 Value Addition Investment Capital Fund Board of Governors, Joe Ligo, has defended the administration of the VT180 million fund, saying it is too early to conclude that public money has been wasted.
His comments follow concerns raised by Public Accounts Committee member Hon. Andrew Wilbur Napuat that some funded projects had not yet started.
Mr. Ligo said the funds were only released at the end of last year, making it premature to judge the projects. He stressed that the money has not been wasted and remains invested in helping Ni-Vanuatu businesses grow.
Chairman of the 2025 Value Addition Investment Capital Fund Board of Governors, Joe Ligo, has defended the administration of the VT180 million fund, saying it is too early to conclude that public money has been wasted. His comments follow concerns raised by Public Accounts Committee member Hon. Andrew Wilbur Napuat that some funded projects had not yet started. Mr. Ligo said the funds were only released at the end of last year, making it premature to judge the projects. He stressed that the money has not been wasted and remains invested in helping Ni-Vanuatu businesses grow. He said it is now the responsibility of the Department of Industry and the Ministry of Trade to work closely with recipients by helping them access raw materials and develop their businesses. Mr. Ligo also said the funding process was publicly known, applications were received, and the final list of recipients was approved by the Council of Ministers, with the Board responsible for implementing that decision. He added that he personally visited several funded projects after the funds were released and remains confident the recipients are committed to delivering their projects.
He said it is now the responsibility of the Department of Industry and the Ministry of Trade to work closely with recipients by helping them access raw materials and develop their businesses.
Mr. Ligo also said the funding process was publicly known, applications were received, and the final list of recipients was approved by the Council of Ministers, with the Board responsible for implementing that decision.
He added that he personally visited several funded projects after the funds were released and remains confident the recipients are committed to delivering their projects.
