The National Arts Fund of Argentina was inaugurated 50 years ago, as a result of an original and advanced conception, ahead of its time, which understood that cultural and artistic activities, even those carried out with an industrial or commercial sense, require, just like other sectors of the country’s productive life, a permanent and specialized financial system for their promotion and economic and technical aid.
This institution was different from others known in the world around that time, like Arts Council England or the Canada Council for the Arts (pioneering institutions in the field of public funding of the arts, created in England in 1945 and in Canada in 1957 and very strong nowadays). It, our national bank for culture, was conceived as an autonomous organism with the mission of “managing, collecting and distributing the funds for the support of the arts laid down by laws enacted or to enact”, in order to hand them over to the private sector through measures of economic support, preferably through various credit lines.

http://adncultura.lanacion.com.ar/Nota.asp?nota_id=983430&high=edwin