Scotiabank Applauds the Federal Government's New Pathway to Increase Permanent Residency of Essential Workers and International Graduates

TORONTO, April 14, 2021 /CNW/ - Earlier today, the Honourable Marco E.L. Mendicino, Minister of Immigration, Refugees and Citizenship, announced a new pathway to permanent residence, targeting essential workers and international graduates who are temporary residents in Canada. Effective May 6, 2021, over 90,000 current temporary residents considered essential workers – including customer service representatives at financial institutions – will be granted permanent residency following an application process, increasing their economic participation and integration into the Canadian economy. This initiative complements the Government of Canada's recent announcement to support economic recovery through increased immigration targets.

"Immigration is an important form of economic stimulus and a key engine of growth for Canada, and we applaud the Federal Government's efforts to find innovative ways to fast-track Canada's pandemic recovery through immigration," said Dan Rees, Group Head, Canadian Banking for Scotiabank. "While the pandemic will eventually pass, the need to strengthen Canada – economically, demographically, culturally – will persist, and to achieve this, we need to make sure immigration continues to be the Canadian advantage."

In January, Dan Rees published an op-ed calling for all levels of government and businesses to work together to ensure the seamless integration of new Canadians and to create conditions to allow them to participate fully in the economy.

Similarly, in January, Scotiabank launched ScotiaRISE, a new 10-year, $500 million commitment to promote economic resilience by accelerating newcomer integration, increasing high school graduation and postsecondary participation, and removing barriers to career advancement.

About Scotiabank
Scotiabank is a leading bank in the Americas. Guided by our purpose: "for every future", we help our customers, their families and their communities achieve success through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With a team of approximately 90,000 employees and assets of approximately $1.2 trillion (as at January 31, 2021), Scotiabank trades on the Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange (NYSE: BNS). For more information, please visit http://www.scotiabank.com and follow us on Twitter @ScotiabankViews.

SOURCE Scotiabank

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