Better Factories Cambodia and Better Work are part of a global partnership between the International Labour Organization (ILO) and the International Finance Corporation (IFC). Launched in February 2007, this partnership aims to improve labor standards and competitiveness in global supply chains.
In Cambodia, the IFC has been instrumental in helping to launch BFC’s expansion into the footwear industry.
The ILO has four strategic objectives: to promote and realize fundamental principles and rights at work; to create greater opportunities for women and men to secure decent employment and income; to enhance the coverage and effectiveness of social protection for all; and to strengthen tripartism and social dialogue.
The ILO’s work in setting and monitoring international labor standards has provided the framework for national labor law and practice in virtually all countries. The ILO is guided by the principle that social stability and integration can be sustained only if they are based on social justice. ILO assistance to efforts at job creation has been made more urgent by the steady rise in poverty linked to unemployment and underemployment during the last decade.
The ILO provides research, analysis, and advice to assist policymakers and constituents in its 179 member states to make the right choices and formulate optimal strategies for creating more and better jobs. In particular, the ILO helps its member states take practical steps towards implementing its international labor standards.
Cambodia became a member of the ILO in 1969; however, the ILO’s role in Cambodia’s economic and democratic development began in the early 1990s following the demise of the Khmer Rouge. The Kingdom of Cambodia has ratified all eight of the fundamental labour standards and 13 ILO Conventions.
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In all of its investments and advisory projects, IFC never loses sight of its ultimate goal: to improve the lives and raise the living standards of those in developing countries who most need the benefits of economic growth.
IFC advisory services work with the government and private sector to help businesses grow quickly, innovate, and raise performance standards. Advisory Services focuses on projects that will increase private sector access to finance, improve the business environment, improve corporate productivity, enhance environmental and social performance, and increase access to infrastructure. Projects combine local knowledge and analysis with international expertise that stems from its affiliation with the World Bank Group. This enables IFC to share knowledge across industries and to extend its reach to where it is most urgently needed. This knowledge is tailored to suit the local context and changing domestic and global economic conditions.