$40 million fund created for Bangladesh victims

DHAKKA: A compensation fund to benefit the victims of an April factory building collapse in Bangladesh that killed more than 1,100 people is being created.

The fund, estimated at $40 million, would compensate injured workers and dependents of those of who died.

Retailers El Corte Ingles, Bonmarche, Loblaw and Primark have pledged to contribute to the fund.

The illegally constructed, 8-story Rana Plaza collapsed on April 24 as thousands of people worked inside in five garment factories. The collapse was the deadliest disaster to hit Bangladesh´s garment industry, which is worth $20 billion annually and supplies global retailers.