Windmill Microlending is a not-for-profit working to address underemployment of internationally trained professionals.
It offers loans up to $15,000 to pay for the credentials, licensing, training or professional development.
Windmill Microlending CEO Claudia Hepburn says the donation will help thousands of skilled immigrant women to achieve professional success and help thousands of families to escape poverty.
The donation is part a 10-year, $500-million initiative at Scotiabank to help disadvantaged groups.
The bank says it believes the donation will help strengthen the economic resilience of newcomers and contribute to the long-term growth of the country.
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