National instrument bank launched today

Music Council of Australia,
11 June 2008, Australia

The Music Council of Australia (MCA) has launched the inaugural National Instrument Bank.

The MCA National Instrument Bank will acquire by loan or gift, fine musical instruments for loan to Australia's finest players, whether they are young virtuosi beginning their careers or musicians already leading Australia's orchestras and ensembles.

The Bank is intended to address the problem that fine instruments, especially string instruments, have escalated in price to the point that musicians cannot afford to buy them. In many foreign countries, wealthy individuals and corporations purchase these instruments and loan them to their countries' best players. Only a handful of Australian players are so fortunate and there has been no systematic attempt to address the problem. The Instrument Bank hopes to combat this disadvantage by bringing fine instruments to Australia and providing them to our musicians.

http://www.mca.org.au/web/content/view/171/1/