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PPIAF’s Sub-National Technical Assistance (SNTA) program is helping sub-national government entities in Peru raise market-based financing for much needed infrastructure investment. Since 2008, SNTA has assisted eight regional and municipal entities by facilitating credit ratings, implementing financial assessments and coaching, supporting transaction preparation, and helping the central government monitor and evaluate the financial health of local authorities. As a result of SNTA support, the Municipality of Lima has signed two significant financings for investment: a $70 million commercial bank loan with BBVA Banco Continental in April 2010—and a subsequent $120 million (local currency PEN$360 million) loan with BBVA and Scotiabank, signed in November 2013. The SNTA technical assistance also helped the Regional Government of Arequipa obtain a $10 million commercial bank loan in January 2011 to finance a regional road rehabilitation project.