Film Guarantee Fund approves
new loan guarantee
The Film Guarantee Fund (FGF)
has recently approved a loan guarantee of $1.75 million to
Mandarin Films Limited for its film project "Wonder Woman".
Citic Ka Wah Bank Limited
agreed to provide a facility of $3.5 million to this film
project, while the FGF will guarantee 50% of the loan. This
is the twelfth approval since the FGF was launched in April,
A spokesman for the Television
and Entertainment Licensing Authority said, "The FGF provided
loan guarantees to local participating lending institutions
that offered loan facilities to film productions that had
secured a film completion arrangement. The maximum loan guarantee
for each film is 35% of the production budget or $2.625 million,
whichever is less.
"All film production companies
registered locally that have produced at least two films in
the past 10 years for commercial release in Hong Kong before
applying for a guarantee under the scheme are eligible to
apply for a guarantee. Interested film production companies
can submit applications through the local participating lending
At present, there are nine
local lending institutions participating in the scheme. An
updated list of the participating lending institutions can
be found at the following website: http://www.fso-tela.gov.hk/doc/list.pdf.
Application forms for the fund can be obtained from the Film
Services Office, 40/F Revenue Tower, 5 Gloucester Road, Wan
Chai, or downloaded from the following website: http://www.fso-tela.gov.hk.
Enquiries can be made on 25945729 or 25945726 or via e-mail:
Ends/Wednesday, June 6, 2007