This report provides an analysis of donor government funding to address HIV in low- and middle-income countries in 2021, the latest year available, as well as trends over time. It includes both bilateral funding from donors and their contributions to the Global Fund to Fight AIDS, Tuberculosis and Malaria (Global Fund), UNITAID, and UNAIDS. Donor government funding for HIV declined between 2020 and 2021, primarily due to the timing of payments rather than decrease in support in the past year. Still, this means that funding was largely flat in 2021 compared to the prior year, even as 1.5 million people were newly infected with HIV, 650,000 died from AIDS, and global progress is slowing and well below targets.1 This also occurred amid the ongoing impacts of COVID-19 and the war in Ukraine, and against a backdrop of growing inflation as well as shrinking HIV support from other sources.2 Moreover, donor support is not keeping pace with inflation, as funding in 2021 essentially matched 2008 levels in nominal terms, and several donors have reduced their support for HIV over the past decade. As such, there is significant uncertainty about the future, as the COVID pandemic continues to effect economies around the world and donors face other global pressures.