The Film Guarantee Fund has approved its sixth loan guarantee for a local film production. The HKCB Finance Limited has agreed to provide a facility of $5.25 million to Jing's Production Limited for its project "The Battlefield" and the fund will guarantee 50% of the loan.

Since its launch in April, 2003, the $50 million fund had committed $11.5 million to production projects, the Television & Entertainment Licensing Authority said.

The fund provides loan guarantees to local lending institutions that offer loan facilities to film productions that have secured a film completion arrangement. The maximum loan guarantee for each film is 35% of its production budget or $2.625 million, whichever is less.

All film production companies registered locally that have produced at least three films between 1992 and 2001 for commercial release in Hong Kong are eligible to apply for a guarantee.