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Published on Thursday, 23 June 2016

One in four Bangladesh factories face major remediation costs

Written by John Mowbray

GENEVA – Excessively high interest rates and a lack of financial literacy are highlighted as major obstacles to factories in the Bangladesh Ready Made Garment (RMG) sector from obtaining remediation finance according to a report by the International Finance Corporation (IFC) and International Labour Organization (ILO). The report suggests a quarter of all factories will require major retro-fitting remedial work and as such are facing remediation costs that in extreme cases can reach US $1.5 Million.


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