​HISTORICAL REVIEW

Fachada IDEA 

Tornamesa Sede IDEA Autor: Desconocido Medellín, 24 Mayo 2007

 

The Antioquia Development Institute was initiated by Ordinance number 13 of August 28, 1964. Its initial capital was the money obtained from the sale of the Antioquia Train system to the Nation. Two years after realizing the sale, the destination of those resources was still being debated by the Departmental Government headed by Mr. Mario Aramburo Restrepo.

It was then that a unique and visionary proposal emerged. This proposal ensured the correct destination of the resources obtained. It was defended vehemently by famous men like Luis Lopez de Mesa (who originally made the proposal), Peter Santamaría (who proposed the project to the then leaders) and Jorge Restrepo Uribe (first institute manager).

The brilliant idea consisted in creating an autonomous institution for the promotion of culture, wealth, work, and growth of municipalities in Antioquia. And the purpose is to solve the more urgent needs providing technical counseling and financial help for the construction and betterment of hospitals, communication ways, libraries, schools, and cultural centers.

The special connotation is that all of these objectives should not be the result of the consumption of the capital but that of its return and economic performance. As is evidenced in the first Act of the first meeting of its Board of Directors meeting (headed by Governor Aramburo Restrepo), IDEA is a public entity that, without losing its official nature, moves and acts in the legal environment with greater ease within more agile norms which makes it resemble a private company.

The reason for its creation was also determined when in that historical meeting the first guidelines where thought out as part of the wellbeing and development of the Antioquia people. The first loan made by IDEA was of $300.000 to the Municipality of La Ceja, to transform the fair plaza into a market plaza, moving the tents to a more comfortable place. The loan was for a short term since the new plaza would give it the necessary profitability to cancel it.

This ambitious project became a reality thanks to the determination of the Antioquia honorable assembly. Since then and until now the municipalities have a solid and efficient Institute that offers credits and backs up the works that promote Social and Cultural Economic Development for all the Antioquia regions.