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ILO garment strategy to tap $14 billion finance from IFC, World Bank

  

International Labour Organisation’s (ILO) Action in the Global Garment Industry strategy hopes to tap into $14 billion in finance from the International Finance Corporation (IFC) and the World Bank to help those impacted by the pandemic. Many Indonesian textile workers’ unions and employer associations have issued the joint commitment to plan first outlined in April. It proposes to take coordinated action to protect garment workers’ income, health and employment. It also calls for more sustainable systems of social protection.

Leading brands and retailers including Primark, H&M, Inditex, C&A, Adidas and VF Corp were amongst the first to endorse the cross-industry plan to provide urgent financial relief to vulnerable garment factories and workers in response to the COVID-19 pandemic.

The Indonesian Employers’ Association (APINDO), the Indonesian Textile Association (API) and the Garment and Textile Trade Union Federation are amongst the latest cohort of industry stakeholders to align with ILO’s ambition, having taken part in an online meeting earlier this month. Aligning industry heavyweights, the ILO is supported by the International Organization of Employees (IOE), International Trade Union Confederation (ITUC), and the IndustriALL Global Union, along with NGOs and finance institutions.

 
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