The clothing chain will make the payments to 580 workers or their families from the Primark supplier New Wave Bottoms who died or were injured as a result of the collapse. The firm occupied the second floor of the eight-storey building.
The retail chain, part of Associated British Foods, is also making a further payment of £602,000 to workers in its competitors' supply chain. This will be paid to the Rana Plaza Donors Trust Fund and is in addition to the £1.2m which Primark has already distributed to workers or their families.
The funding pot is being coordinated by the International Labour Organisation. However, it is believed to still be a long way short of its £24.1m target.