Facing the dangers of existence from climate change, the nine -nine Prashant Island nation of Tuvalau, which is included in the nine coral islands, has marked a contrasting milestone: unveiling its first ATM. It moves towards financial modernization, now in the National Bank of Tuvalu on Funfuti with ATMs, the aim is to improve banking access to its 12,000 residents who were previously dependent on cash transactions only.
As Mentor, So far, on Pay Day, workers need to queue in the bank to withdraw their salary, a process that often leads to long lines and has limited access after the bank is closed at 2 pm. Daily transactions for groceries, hotels and services remain almost completely cash-based.
The TO said during its main speech, “Today is not only an important opportunity, but it is also historical because the bank goes not only in terms of its services but also in a completely new era in terms of its strategic direction.”
Inaugurated in 2021, the total cost of ATM and point-off-cell rollouts exceeded $ 3m, according to the bank’s general manager, Sios Penita TO, who spoke to the Guardian in the bank’s main office.
“We all have been in an analog space with all; these were dreams for us,” TO said. “These machines do not come cheap. But with government support and sheer determination, we were able to roll out this service for our people.”
Along with this, Tuvalu is going one step ahead in his effort to preserve his land and the kingdom. As the physical reality of the nation slips under the ocean, the government is creating a digital copy of the country, taking everything from its homes to its beaches to its trees. It hopes that this virtual replica will preserve the beauty and culture of the nation – as well as the legal rights of its 11,000 citizens – for generations to come, BBC.