North American and European retailers announced Wednesday that they had agreed on fire and safety inspection standards for up to 2,000 factories in Bangladesh that supply such retailers as Gap, Wal-Mart and H&M.
The European and North American groups agreed to streamline standards for inspector qualifications and monitoring requirements, but tensions between them remain high, with both parties disagreeing on how to finance safety upgrades.
European retailers have agreed to finance fire and safety reforms for buildings that do not meet requirements, while the North American group - Alliance for Bangladesh Worker Safety - pledged $100 million in loans to factory owners to finance safety upgrades.
See full Article: http://www.huffingtonpost.com/2013/11/20/retailers-bangladesh-factories_n_4312336.html?ir=Business&utm_hp_ref=business
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