Recognition Counts-Micro Loans for the skilled Immigrants

Recognition, a pilot program would be for theduration of two years and will extend loans up to $10,000 to the skilled Immigrants.

Online PR News – 22-October-2012 – 22/10/2012, Unit 209 12830 80th Avenue Surrey BC Canada – Manitoba offers Micro Loans to Skilled Immigrants to meet their re-accreditation and training requirements in an attempt to make them settle down faster.

Recognition, a pilot program would be for theduration of two years and will extend loans up to $10,000 to the skilled Immigrants.

Supporting Employment and Economic Development (SEED) Winnipeg services will be used to apply for the loans and make financial planning’s along with chalking out the career plan.

The program will be extended to immigrants of various professions like dentists, engineers, nurses and even drivers.

Cindy Coker, Director of SEED Winnipeg says, “This program helps ensure that immigrants who want to work in their chosen field can get the certification upgrading or training they need to have their education and experience.”

Special Features of the loan

• The loan will cover all the expenses pertaining to training like registration fee, tuition fee, exam fee, living costs and even the cost of child care will also be covered in it.
• One can start paying the loan after three months of getting aloneor sixmonths after they finish their training program. The earlier of the two will be applied.
• Loan amount will be up to $10,000.
• The payback instalments can be as small as $10 per month.
• The Principal amount can be paid back after 90 days and payment options are quite flexible and affordable
• The loan can be repaid within a period of five years.
• Those how are Canadian permanent residents and Canadian citizens will be eligible to get the loan.
• The recertification process may take two years’ time.

Government’s involvement

Manitoba Government is making a contribution of $250,000 to the program for administration costs which would be spread over three years’ time. The program enjoys the funding from Manitoba and CanadianGovernment both.

Human resources and Skills Development Minister Diane Finley says, “Our Government’spriority is job creation and economic growth. We need to address the skill and labour shortages in many regions of the country.”

The Minister adds, “By partnering with Government of Manitoba and organizations like SEED Winnipeg to help internationally trained professionals put their skills to work sooner, we are working together for long term prosperity of the nation.”

The Immigration Department has worked in association with Manitoba Advanced Education and Literacy, Manitoba Entrepreneurship, training and Trade and Manitoba health to provide adequate support to the skilled immigrants coming to the nation.

Aim of providing such loans

The aim of this toolkit is to help settle down the skilled immigrants in their own field or work. Studies reveal that skilled immigrants coming to Canada take up a low level job to meet their survival needs. This kind of a loan program will help them upgrade their qualification and train them up in a better way to be a part of Canadian economic growth story.

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