Loans for attracting immigrants with professional degrees to Manitoba

Canada, 13th October: A new project by Manitoba hopes to attract foreign engineers, doctors, dentists and others to come and work here.

So, immigrants having professional degrees will be lured to work in Manitoba. Loans for helping foreign professionals get re-certified—After coming to Manitoba, most of immigrants with professional degrees in science, engineering, medicine and other such fields had no option but to spend huge money for getting re-accredited. But thanks to the new initiative by Manitoba, many immigrants with professional degrees will now get qualified for a loan aimed to pay for expensive examinations. This will be done through a new project of micro-loans for Manitoba immigrants.

Micro loans not exceeding $10,000 will be offered to new Manitobans a new pilot project. The good thing is that the monthly payment will be just $10 to begin with.

This program will enable immigrants reach their optimum potential, says Christine Melnick, Manitoba immigration minister.

Micro Loan highlights—

• Maximum limit--$10,000

• No loan fee;

• No credit history needed;

• Repayment in five years;

• Can be used for living expense, tuition, textbooks, computers, work clothes, tools, personal protective equipment, registration/licensing expenses.

Recognition Counts! Micro Loans for Skilled Manitoban newcomers—Aptly named as ‘Recognition Counts! Micro Loans for Skilled Immigrants’, the new two-year pilot program will aim to assist newcomers work in their respective fields of expertise in Manitoba.

It will help skilled foreign professionals get certified, gain training and upgrade their skills for getting jobs in Manitoba, states executive director of SEED(Supporting Employment and Economic Development), Winnipeg, Cindy Coker.

Designed by Assiniboine Credit Union and SEED with collaborative efforts of federal and provincial government, the program will curb unemployment and underemployment among foreign professionals in Manitoba.

It’s quite common to see many foreigners having degrees in medicine, engineering, nursing etc. taking to taxi-driving or cleaning jobs for supporting their families in Manitoba, adds Coker. And this is something what the project aims to control in Manitoba, she maintains.

Easier repayment of loans for Manitoba foreign professionals—Recipients of loans will be given 90 days after getting jobs in the respective chosen field of expertise to start repayment of their loans.

And they will have to repay the entire loan amount in the period of five years. Regarding eligibility for getting micro loans, the applicants need to be Canadian citizens or Canada permanent residents hailing from low-income group(with annual income of less than $23,298).

They will be able to get certification within a period of two years.