The Hong Kong Film Development Council (FDC) announced today (February 20) the approval of two applications for financing small-to-medium film productions under the Film Development Fund (FDF). The total amount of Government Finance for the two film projects is $5.2 million.
The titles of the two film projects are "McDull WuDang" (an animation film) and "Claustrophobia" (a feature film). The production budgets of the two projects are $12 million and $5.4 million respectively. The approved Government Finance for both film projects amounts to 30% of the production budgets.
The Convenor of the Council’s Fund Vetting Committee, Mr Wilfred Wong, said, "The two approved film projects are of different film types. It clearly demonstrates that the FDF Scheme could cover different film categories and production scales to meet various needs of the local film market. The other applications received by the FDC are being processed. The FDC looks forward to receiving and approving more film projects of different types, and to assist in re-vitalising and developing the Hong Kong film industry."
Applications for financing film productions will first be assessed by the Fund Vetting Committee set up under the FDC. In assessing a funding application, the Committee will be assisted by experts drawn from a Panel of Examiners, who are professionals with experience in film production, sales and distribution. The Examiners will assess the feasibility and marketability of the film projects, and provide their assessments for consideration by the Committee.
"Each application will be assessed by six Examiners. The assessment report on the film project will be submitted to the Committee for consideration. We are very grateful to the Examiners for their valuable services which are provided on a voluntary basis and in the interest of the development of the Hong Kong film industry," Mr Wong added.
To publicise and promote the FDF Scheme, the FDC has held a number of briefing sessions to explain to the industry the related rules and procedures. It has also paid visits to various film organisations, and attended their meetings. The FDC will review the operation of the FDF to ensure that it will be conducive to the long-term development of the local film industry.
Ends/Wednesday, February 20, 2008
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