The housing association sector has successfully raised £58 billion of private finance, enabling it to develop new affordable housing, invest in its existing stock and deliver quality services to its tenants. This includes £13.4 billion of committed loan facilities that are available to meet the sector's forecast funding requirements. For 2009-14 associations are currently forecasting that they will undertake new development with a net cost (after grant and sales receipts) of £9.44 billion which will be funded by private finance.