Remote country with just 11,000 citizens celebrates its first ever ATMs: ‘Significant milestone’
Tuvalu, one of the world's most remote countries, introduces its first ATM, opening doors to modern banking for its citizens.
Tuvalu, the Pacific island nation known for its isolation and pristine coral reefs, has made history by unveiling its very first ATM on April 15. The small nation, situated between Australia and Hawaii, has long relied on cash for all transactions, with no banking machines in sight until now, according to CNN.
The launch of the ATM was celebrated as a significant step forward for the country, with Prime Minister Feleti Teo leading the ceremony on the main island of Funafuti. Surrounded by local dignitaries, the Prime Minister cut a massive chocolate cake to mark the occasion, calling it a momentous achievement for Tuvalu.
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Siose Teo, the general manager of the National Bank of Tuvalu, expressed his excitement about the new service, calling it a “transformative switch” that will “open doors for economic empowerment” for the nation’s 11,200 residents.
According to Nisar Ali, from Pacific Technology Limited, the company that helped design the ATM, this new facility will “definitely break the barriers and introduce the people to modern and reliable banking services.”
Tuvalu
Tuvalu is one of the smallest nations in the world, covering just 10 square miles across its nine islands. Despite its isolation, the country saw over 3,000 visitors in 2023. Its only airport on Funafuti serves only a few flights each week from neighbouring Fiji. Within the islands, locals travel by ferry, as there are no domestic flights.
However, Tuvalu’s small size and unique geographical challenges are compounded by the threat of rising sea levels, which are encroaching on the country's limited land and damaging its agricultural resources. The country is one of the most vulnerable to the climate crisis. Tuvalu made international headlines in 2021 when its foreign minister, Simon Kofe, delivered a speech at the United Nations while standing knee-deep in water.
