The body set up to compensate the victims of the Tazreen Fashions fire in Bangladesh is to disband after completing payments to injured workers and families of the deceased and missing.

The Tazreen Claims Administration (TCA) has awarded a total of US$2.17m in compensation to 582 victims and dependents of the Tazreen Fashions fire that killed around 117 workers in Bangladesh in 2012.

Of this, $1.29m has gone to 373 dependants of 103 deceased, $1.36m to 37 dependants of the nine missing workers, and $0.75m to 172 injured workers.

Loss of income for the injured, deceased and missing workers was calculated on the basis of the ILO Convention 121. In the case of injury, compensation was calculated on the basis of salary and age of the worker; while for dependants of the deceased or missing workers, payments were based on the salary of the deceased/missing and the age and number of dependants.

"Finally we have some form of justice for the victims of this dreadful tragedy" says Jyrki Raina, general secretary of the IndustriAll global union. "IndustriAll and UNI Global Union continue to work through the Accord for a safe and sustainable garment industry in Bangladesh and elsewhere, to make sure that disasters like Tazreen never happen again."

The total funds required to pay compensation and to provide long-term medical care for injured workers was estimated at approximately $2.5m. This was paid for by C&A Foundation, Fung Foundation, Brac USA, KiK and EI Corte Ingles.

In addition, C&A Foundation covered the administrative and running costs of TCA separately, so that 100% of the money from donors could be directly awarded to victims and their families.

The TCA says it is in the process closing down after completing its mandate, with future arrangements in place to combine its long-term medical care programme with that of Rana Plaza. It adds a Trust for that purpose is being established.

Additionally, an educational trust for children of Tazreen victims has been funded by the C&A Foundation and Fung Foundation, while the Tazreen Coordination Committee has allocated a budget of $350,000 for long-term medical care to injured workers.