Daniel Craig is set to return to work on the 23rd James Bond movie.

The project has been on hold indefinitely because of financing problems with studio MGM, but even Sam Mendes - who had pulled out of the project because of the difficulties - is believed to be back on board with production, taking himself out of the running to direct 'The Hunger Games'.

According to Deadline.com, shooting on the movie could begin as early as summer 2011.

Bond 23 - which has yet to be officially titled - was set to be filmed this year ahead of a 2011 release.

MGM announced earlier this week that it lenders had agreed to extend its debt repayment period until the end of October.

In a statement, the studio said: "The lenders took this action in support of The Company's ongoing efforts to evaluate long-term strategic alternatives to maximize value for its stakeholders. MGM appreciates the continued support of its lender group throughout this process."

Problems with MGM - which is rumoured to be in $3.7 billion of debt - has also halted production on 'The Hobbit' movie.

However, Sir Ian McKellen recently revealed the movie could begin shooting in January 2011.