A RECORD sum of almost $80 million will be spent on Hongkong sport in the next financial year.
The figure of $79.4 million, representing an increase of almost 50 per cent on the $55 million set aside for the 1992-93 financial year will be made available by the Sports Development Board (SDB).
The amount includes $18 million interest from the SDB's Trust Fund of $200 million, established from the Royal Hongkong Jockey Club's donation of $250 million last July.
Direct grants to all 50 sports associations and the Amateur Sports Federation and Olympic Committee of Hongkong will amount to $36.29 million, which represents a significant increase of 23 per cent from last year.
SDB director of development services, Mick Aitken, said the SDB's budget had grown significantly and that made it easier than ever before for the body to support the national associations.
''We have seen the budget grow significantly from $55 million last year to $79.4 million. I would say that is a sizeable growth which goes a long way in meeting our strategic goals,'' said Aitken.