The TIKLK fund was created by TIKI to provide a mechanism to finance the creation of new and innovative travel destinations for young people in remote and developing regions.
It is the only such fund in Australia.
A spokesperson for the Territory Government said the fund would fund the construction of new destinations for Aboriginal and Torres Strait Islander children and young people, and the development of a new Indigenous education system.
“We want to see the new destinations developed, while at the same time providing a stable source of funding for existing destinations,” she said.
The TIKK Fund is a joint venture between the Territory Department of Primary Industries and Tourism and the Territory Tourism Commission.
Under the plan, TIKC is responsible for managing and operating the TIK Fund, while TIKP manages and provides oversight for the TikK Fund.
In the past, TIGI has been responsible for operating the Australian Government Travel Program, which is administered by the Territory Education and Training Agency.
But the Territory Minister for Indigenous and Torres Strait Islander Affairs and the Minister for Primary Industries, Tourism and Communications, Fiona Scott, have been appointed to the roles respectively.
Both Scott and TIGU have been instrumental in funding the TISFL and the TIGP.
TIGU is the Territory’s only Aboriginal and Tasmanian Government agency with a budget.
With the Tiki Fund’s approval, the Territory government will begin the process of setting up the TISH Fund.