The Hong Kong Mega Events Fund will invite the first round of applications during July, said the Hong Kong Special Administrative Region (HKSAR) government on Friday.

The Fund will subsidize the Hong Kong's organization of large arts, cultural and sports events over the next three years.

According to a press released on Friday, an assessment committee has been formed to advise the Government on the fund's administration.

The committee is chaired by Jeffrey Lam and five people from the tourism, culture, arts and sports and events management sectors. Representatives from the Hong Kong Home Affairs Bureau, the Information Services Department and the Tourism Commission have been appointed as members.

(Xinhua News Agency June 27, 2009)