An agreement to establish a trust fund was signed between the Government of Niue and the Ekalesia Kerisiano Niue during the annual Peniamina Day service on Monday last week.
The purpose of the Trust is for the government of Niue to make financial contributions to aid and support the long-term financial stability and viability of the Ekalesia Kerisiano Niue.
According to government officials, the idea of establishing the trust started several years ago during the government of the late Sir Toke Talagi. An initial fund of $140K was allocated, forty thousand was paid to the Ekalesia.
On Monday last week the Minister for Social Services Hon. Sonya Talagi signed the agreement with the President of the Ekalesia Kerisiano Niue Rev. Navy Salatielu.
The government of Niue started the trust with $100 thousand dollars.
There will be 5 Trustee’s: 3 from Government, and 2 from Ekalesia Niue. The Government will appoint the chairperson to the Board of trustees.
According to the terms of the trust there will be no draw down from the Trust for the first 10 years. After that, draw downs may only be made, or 50% from the interest derived.
This trust is established for the long-term viability of the Niue Ekalesia Kerisano.
