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Action by World Bank’s IFC on Workers’ Rights a Major Step Forward

Author: International Confederation of Free Trade Unions (ICFTU), Published on: 22 February 2006

he ICFTU has applauded yesterday’s adoption by the International Finance Corporation (the private sector lending arm of the World Bank) of a new loan performance standard on labour rights and working conditions. After the new standard is implemented in the coming weeks, all companies that borrow from the IFC will be required to abide by the core labour standards (CLS) as defined by the International Labour Organization (ILO). [refers to Grupo M]

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Related companies: Grupo M