Tuvalu presents the first cash machines at the “significant” ceremony

The tiny Pacific Island of Novolu presented its first in history to the Prime Minister.

Their contribution is noteworthy for the first time when 11,000 residents gained access to electronic banking.

Five cars and 30 sales terminals were installed on the country’s main island, including at its airport.

Prime Minister Felli Theo said that this step “not only means a significant occasion but also historical when the bank goes into a brand new era.”

“We were in analogue all the time, these were dreams for us,” said Theo, according to The Guardian.

“These machines are not cheap. But with state support and pure determination, we were able to launch this service for our people.”

The ceremony was held at the Tuval National Bank headquarters in the village of Voyak on Funafuti. Traditional leaders, parliamentary deputies and business officials also took part in it.

So far, Tuvaluan had to physically visit the bank to get money, and long queues form on the street when employees rent a salary on the day of remuneration.

Shops will also be able to process electronic payments for the first time.

However, only the previous cards will be taken by cash. The bank plans to enter debit and credit cards that can be used internationally at a later date.

The head of the National Bank of Siose Penitala Teo said the transition to the electronic banking business and payment would open the door for economic expansion of rights and opportunities.

Tuvalu is a group of nine small islands in the South Pacific, which won independence from the UK in 1978.

Previously known as Ellis Islands, all low, and this is not the point to the Tuvalu exceed 4.5 m above sea level.

Local politicians conducted agitation Change climatearguing that in the islands, flooded with an increase in sea level.

In November the the theo made a national statement in COP29 climate In Azerbaijan, it warns that the increase in the sea level as a result of the melting of the glaciers will once mean that Tuvalu is completely immersed.