# Replenishment

The Global Fund raises funds in multiyear cycles known as Replenishments. This fundraising structure began with the First Replenishment, held in 2005 to raise funds for 2006-2007. Prior to 2005, all funding came from ad hoc contributions. The Replenishment cycle was developed to enable more stable and predictable financing for countries and for the Global Fund Secretariat. Documents from each of the Replenishments are available for download.