This document provides the basis for discussions at the first forum for potential funders of the Systematic Observations Financing Facility (SOFF), virtually taking place on 24 March 2021. The objective of the first forum is to present to potential funders the rationale for the establishment of SOFF; to present the current approach to the institutional design of SOFF; to summarize the process, timeline and status of preparations; to identify participants’ questions that have to be addressed; and to present the expectations for the subsequent meetings. Two additional potential Funders’ Forums are planned for early July and mid-October 2021.