Increase of the Immigration Loans Program Statutory Advance Limit

Validated finding · five-country-2010-20260922-v118-evidence-presentation-fix

CountryCanada

Operative dateDecember 19, 2023

CategoryRefugee integration / financial assistance

Policy toolStatutory loan advance limit increase

Affected groupResettled refugees / immigrants

Policy effect

Amends subsection 290(1) of the Immigration and Refugee Protection Regulations to increase the maximum statutory advance limit available under the Immigration Loans Program from the Consolidated Revenue Fund to $300,000,000 to ensure continuous funding for resettlement and transportation loans.

Conditions and exceptions

Validated condition or limit: Amends subsection 290(1) of the Immigration and Refugee Protection Regulations to increase the maximum statutory advance limit available under the Immigration Loans Program from the Consolidated Revenue Fund to $300,000,000 to ensure continuous funding for resettlement and transportation loans.

Official source excerpt

Quoted verbatim from the official source below. Ellipses indicate omitted text.

Refugee Protection Regulations (Immigration Loans Program) under subsections 5(1) and 88(2) of the Immigration and Refugee Protection Act footnote a. Regulations Amending the Immigration and Refugee Protection Regulations (Immigration Loans Program) Amendment 1 Subsection 290(1) of the Immigration and Refugee Protection Regulations footnote 1 is replaced by the following: Maximum amount 290 (1) The maximum amount of advances that may be made under subsection 88(1) of the Act is $300,000,000. Coming into Force 2 These Regulations come into force on the day on which they are registered. REGULATORY IMPACT ANALYSIS STATEMENT (This statement is not part of the Regulations.) Issues The Immigration Loans Program provides eligible immigrants with access to funding for costs related to transportation and for assistance with initial settlement in Canada. Funding for the Immigration Loans Program is provided through an advance from the Consolidated Revenue Fund (CRF), and the maximum advance is defined in the Immigration and Refugee Protection Regulations (the Regulations). Based on forecasted admissions of eligible immigrants who typically require loans for transportation and settlement, the … arrival in Canada, for example by extending the repayment period. Objective The objective of this amendment is to continue to enable and facilitate welcoming resettled refugees, as well as other newcomers, arriving under humanitarian commitments through an accessible and affordable loans program. Description The Regulations are amended to set the maximum amount of advances from the CRF for the Immigration Loans Program at $300 million. Regulatory development Consultation The regulatory amendment relates to an internal process to ensure the continued operation of the Immigration Loans Program and does … Implementation, compliance and enforcement, and service standards This regulatory amendment comes into force on the day on which it is registered. The Department will continue to provide loans statements to clients and receive repayments of the loaned money. The Department will also continue to monitor the repayment rate of loans and to monitor the total balance of loans outstanding. Contact Faith Woods Assistant Director Resettlement Policy Branch Immigration, Refugees, and Citizenship Canada 365 Laurier Avenue West Ottawa, Ontario K1A 1L1 Email: [email protected] Footnotes Footnote …

Governor in Council / Public Works and Government Services CanadaSOR/2023-279, Regulations Amending the Immigration and Refugee Protection Regulations (Immigration Loans Program), Canada Gazette, Part II, Vol. 158, No. 1.Open official source

Retrieved from https://gazette.gc.ca/rp-pr/p2/2024/2024-01-03/html/sor-dors279-eng.html

Review method

Two separate automated exact-claim source reviews

Automated source validation is not independent human legal review. The finding should not be treated as legal advice. Record fcp-25336e500e122d57ff8c. Something wrong? Flag this record.

Increase of the Immigration Loans Program Statutory Advance Limit

Policy effect

Conditions and exceptions

Official source excerpt

Review method

Other Canada changes operative in 2023