The last decade has seen major growth in humanitarian need, putting the international humanitarian system under pressure and stretching donor resources. Within this context, the UK Department for International Development (DFID) introduced multi- year humanitarian funding (MYHF) for protracted conflicts in 2014. This recognised the long-term nature of many of the top recipients of humanitarian aid, as well as the complexity of the contexts in which they were operating. DFID commissioned a thematic evaluation focused on protracted crises, using Ethiopia, Sudan, the Democratic Republic of Congo (DRC) and Pakistan as case studies. An inception report for this study and a set of formative reports set out the detailed portfolios, evaluation questions and design. This report presents interim findings from the study to date on the Value for Money (VfM) of MYHF and contingency funding, summarising emerging findings.