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Pacific Island "Tuvalu" Welcomes First ATM

Taarek Refaat The Pacific island nation of Tuvalu is one of the world's most isolated countries, surrounded by no country or landmass, but by colorful fish, coral reefs, and azure waters. Located between Australia and Hawaii, Tuvalu is so isolated that all financial transactions by locals or visitors are cash-only. So when the tiny nation unveiled its first ATM on April 15, it was a big celebration. Officials gathered in front of the first ATM in the capital, Funafuti, and Prime Minister Feleti Teo hailed the "huge achievement" and cut a huge chocolate cake. Siosi Teo, CEO of the National Bank of Tuvalu, which operates the machines, said it was a "great achievement" and a "transformation" that would "open the doors to economic empowerment for the people of Tuvalu," whose population is about 11,200. "This machine will revolutionize the world of banking and introduce people to modern, reliable banking services," Nissar Ali of Pacific Technology Ltd., which helped design the ATM, was quoted by the Australian Broadcasting Corporation as saying. Tuvalu is one of the smallest countries in the world, with its nine small islands covering a combined area of ​​just over 10 square miles. It is sparsely traveled, with just over 3,000 tourists visiting the island in 2023, according to government data. Tuvalu has one airport, in the capital, Funafuti, which serves a handful of weekly flights from its Pacific neighbor, Fiji. When the capital isn't hosting flights, locals use the runway as a playground for activities ranging from rugby to soccer. Within the country, people travel between islands by ferry, as there are no domestic flights. With the highest point in the country only 15 feet above sea level, Tuvalu is one of the countries most at risk from the climate crisis. Rising sea levels are not only damaging beaches; saltwater intrusion is also eroding the country's limited agricultural land, and rising sea temperatures are threatening marine life. The country made global headlines in 2021 when then-Foreign Minister Simon Coffey addressed the United Nations while knee-deep in seawater, warning the world of the dangers climate change poses to life in his country. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News Egypt confirms denial of airspace access to US B-52 bombers News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia Lifestyle Pistachio and Raspberry Cheesecake Domes Recipe News Australia Fines Telegram $600,000 Over Terrorism, Child Abuse Content Arts & Culture Nicole Kidman and Keith Urban's $4.7M LA Home Burglarized Videos & Features Bouchra Dahlab Crowned Miss Arab World 2025 .. Reem Ganzoury Wins Miss Arab Africa Title (VIDEO) Sports Neymar Announced for Brazil's Preliminary List for 2026 FIFA World Cup Qualifiers News Prime Minister Moustafa Madbouly Inaugurates Two Indian Companies Arts & Culture New Archaeological Discovery from 26th Dynasty Uncovered in Karnak Temple Arts & Culture Arwa Gouda Gets Married (Photos)