$40 million fund created for Bangladesh victims

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Associated Press

Posted on December 23, 2013 at 11:33 PM

Updated Tuesday, Dec 24 at 8:02 AM

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.

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