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The IRCC  conducted the twelfth Express entry draw of 2023. In this draw, there were a total of 589 invitations to apply (ITAs) issued to applicants in the Provincial Nominee Program (PNP) Specific category. The minimum required Comprehensive Ranking System (CRS) score was 691. The candidates who were allotted the given score will be shortlisted for nomination. After a long time, a small draw was conducted by the IRCC.

The Key Highlights of the Draw  - 10th May 2023

• ITA - 589
• CRS score – 691

In a PNP-specific draw, the applicants who are already in the express entry pool and receive nominations from a Canadian province are picked for selection. It is the fourth PNP-specific draw this year. The one before this was conducted on March 1 and invited 667 candidates. All the draws after that were express entry program-specific draws.

The Proof of Funds has also been recently updated

On May 2, 2023, the IRCC also updated the proof of funds and the amount of money that the express entry applicants should have also changed. All the applicants should show proof that they need to have money to settle in Canada. For the Canadian Experience Class, the proof of funds requirement is not needed. The applicants need to have the authorization to work in Canada and also a valid job offer. But the fund's requirement is essential for Federal Skilled Workers Program (FSWP) and Federal Skilled Traders Program (FSTP)
To remain eligible in the express entry profile, the applicants need to update their profile and also show that they have enough settlement funds. IRCC updates the settlement funds annually, and it is 50% of the low-income cut-off totals, and it depends on how many people an applicant should support.

Number of Family Members'    Proof of Funds (CAD)
1    $13,757
2    $17,127
3    $21,055
4    $25,564
5    $28,994
6    $32,700
7    $36,407

How far is the express entry program going in 2023?

The draw prior to this was conducted on April 26, in which 3,500 candidates got selected with a CRS score of 483. The draw before this was on April 12, and it also invited 3500 applicants with a CRS score of 486. While the CRS score this time has increased to 691,  the ITA number is half of what was seen in March, in which more than 21000 applicants got selected, as in three consecutive draws, there were 7000 applicants invited.
The month of April also marked the return to the normal dram schedule. Typically it was until late 2022 and lasted through out March 2023. the express entry draws are conducted every second week on Wednesday, and draws occur weekly throughout March.
In March and April, there was a return to all program draws, and in January and February, most of the draws were program-specific draws. On February 2, IRCC conducted the first-ever program-specific draw for the Federal Skilled Workers Program.

What is Express Entry Program?

The express entry program is the channel to invite Skilled workers in Canada. The selection of applicants is point based, in which they are ranked as per their scores in age, language, education, Work experience, and arranged employment. It is the High scoring applicants who are given the ITA. The applicants are selected in three categories - Federal Skilled Workers Program (FSWP), Federal Skilled Traders Program (FSTP), and Canadian Experience Class (CEC).
Since the target for  Canada Immigration I 2023 is set at 4,60,000 applicants. There are a lot more draws expected in the coming days. Going by the latest trends, the draws will be a mix of Program specific, and all Program draws.