The Flexible Multi-Partner Mechanism (FMM), as FAO’s main pooled multi-partner flexible funding instrument, enables resource partners to contribute voluntary and less-earmarked financial resources to support the delivery of programmatic results under FAO’s Strategic Framework. This report highlights the key achievements of the FMM in 2021, both in terms of its accomplishments as a funding mechanism and the delivery of transformative results on the ground through FMM-funded Programmes and Subprogrammes. Throughout the report, progress is presented in the context of the FMM's results framework, following a results-based approach. Success stories are presented to capture the impact of FMM-funded work on the lives of beneficiaries. The report also highlights how Subprogrammes have continued to adhere to the FMM's key principles. Finally, future directions for the coming years are addressed.