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IMMIGRANT PROFESSIONALS ARE OFFERED LOANS BY THE GOVERNMENT OF CANADA
A new pilot program has been introduced by Government of Canada to support newly arrived immigrant professionals, who are working in different provinces in Canada. This new project is a 3 year pilot project, which is called the Foreign Credential Recognition Loans Pilot. Through this project the internationally trained professionals can have their qualifications recognized in Canada and also can find jobs in their field of experience.
The professionals who migrate to Canada face an important issue on the time and cost they need to spend to get the correct credentials in Canada. The new Foreign Credential Recognition Loans Pilot prepares to develop and examine innovative projects that can give financial support to internationally trained Immigrant Professional in order to reduce some of these financial troubles. Great initiative taken by Govt. of Canada.
The Immigration Minister Jason Kenney has said in his announcement that it is part of the Government's commitment to making it easier for immigrants to join the Canadian Labour market, and the Govt. want new immigrants to be able to make use of the Professional skills as early as possible in Canada and work to their full possibility. The Minister added saying that it's good for the professional and also good for the Economy of Canada.
The Saskatchewan Immigrant Access Fund (IAF) project is one of the first organizations selected under the Government of Canada's foreign credential recognition loans pilot. The IAF is planning to grant microloans for immigrant professionals to support finance the cost of getting their qualifications recognized in Canada. Microloans are small financial loans where applicants need not be on the employment , not need to have a credit history in Canada nor have guarantee. This will make it easy financially for the professionals applying to get their credential recognised. The Canadian Government is estimated to put in totally $18 million over three years for more similar projects across the country.