The Central Emergency Response Fund (CERF) was the first concrete outcome of the Secretary-General’s reform process and the Millennium Summit. CERF was launched on 9 March 2006 and represents an important international multilateral funding instrument. It saves lives by providing rapid initial funding for life-saving assistance at the onset of humanitarian crises, and critical support for poorly funded, essential humanitarian response operations. Each year, CERF allocates approximately US$400 million. Formerly known as Central Emergency Revolving Fund.