The Accord on Fire and Building Safety in Bangladesh has in a statement clarified that it is well funded and capable of meeting its full five-year programme effectively.
The statement says, “The entire inspection programme encompassing around 1500 factories will all be completed between February and September 2014. The costs of these inspections are fully accounted for and will represent 83.4% of the total income of the Accord in 2014.”
It further mentions, “The operational costs on the ground in Bangladesh will account for a further 6.8% of the total income. Therefore over 90% of the total income of the Accord will be used in financing the inspection and operational costs on the ground in Bangladesh. Agreement has been reached with all Signatories to fund these activities and there is no funding shortfall.”
In concluding, The Accord declares that it is well funded and capable of meeting its full 5 year programme effectively.