II 

118TH CONGRESS 

1ST SESSION S. 3207 

To establish the Foundation for International Food Security to leverage 

private sector investments in order to improve agricultural productivity, 

build food systems to mitigate food shock, help alleviate poverty, reduce 

malnutrition, and drive economic growth in developing countries, and 

for other purposes. 

IN THE SENATE OF THE UNITED STATES 

NOVEMBER 2, 2023 

Mr. GRAHAM (for himself, Mr. COONS, and Mr. BOOZMAN) introduced the following bill; which was read twice and referred to the Committee on Foreign Relations 

A BILL 

To establish the Foundation for International Food Security 

to leverage private sector investments in order to improve 

agricultural productivity, build food systems to mitigate 

food shock, help alleviate poverty, reduce malnutrition, 

and drive economic growth in developing countries, and 

for other purposes. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 


tkelley on LAP7H3WLY3PROD with BILLS
2 

•S 3207 IS

1 SECTION 1. SHORT TITLE; TABLE OF CONTENTS. 

2 (a) SHORT TITLE.—This Act may be cited as the 

3 ‘‘Foundation for International Food Security Act of 

4 2023’’. 

5 (b) TABLE OF CONTENTS.—The table of contents for 

6 this Act is as follows: 

Sec. 1. Short title; table of contents. 

Sec. 2. Definitions. 

Sec. 3. Foundation for International Food Security. 

Sec. 4. Governance of the Foundation. 

Sec. 5. Corporate powers and obligations of the Foundation. 

Sec. 6. Safeguards and accountability. 

Sec. 7. Projects, financing, and grants. 

Sec. 8. Prohibition of support in countries that support terrorism or violate 

human rights and of support for sanctioned persons. 

Sec. 9. Annual report. 

Sec. 10. Authorization of appropriations. 

7 SEC. 2. DEFINITIONS. 

8 In this Act: 

9 (1) APPROPRIATE CONGRESSIONAL COMMIT10 TEES.—The term ‘‘appropriate congressional com11 mittees’’ means— 

12 (A) the Committee on Foreign Relations of 

13 the Senate; 

14 (B) the Committee on Agriculture, Nutri15 tion, and Forestry of the Senate; 

16 (C) the Committee on Appropriations of 

17 the Senate; 

18 (D) the Committee on Foreign Affairs of 

19 the House of Representatives; 


tkelley on LAP7H3WLY3PROD with BILLS
3 

•S 3207 IS

1 (E) the Committee on Agriculture of the 

2 House of Representatives; and 

3 (F) the Committee on Appropriations of 

4 the House of Representatives. 

5 (2) BOARD.—The term ‘‘Board’’ means the 

6 Board of Directors established pursuant to section 

7 4(a). 

8 (3) DIRECTOR.—The term ‘‘Director’’ means— 

9 (A) an initial member of the Board ap10 pointed pursuant to section 4(a)(2)(B); or 

11 (B) a member of the Board selected to fill 

12 a vacancy pursuant to section 4(a)(3)(B). 

13 (4) ELIGIBLE COUNTRY.—The term ‘‘eligible 

14 country’’ means any of the countries described in 

15 section 7(b). 

16 (5) ELIGIBLE PROJECT.—The term ‘‘eligible 

17 project’’ means any of the projects described in sec18 tion 7(a)(2). 

19 (6) EXECUTIVE DIRECTOR.—The term ‘‘Execu20 tive Director’’ means the Executive Director of the 

21 Foundation hired pursuant to section 4(c). 

22 (7) FOUNDATION.—The term ‘‘Foundation’’ 

23 means the Foundation for International Food Secu24 rity established pursuant to section 3(a). 


tkelley on LAP7H3WLY3PROD with BILLS
4 

•S 3207 IS

1 (8) KEY STAKEHOLDERS.—The term ‘‘key 

2 stakeholders’’ has the meaning given such term in 

3 section 4(6) of the Global Food Security Act of 2016 

4 (22 U.S.C. 9303(6)). 

5 (9) LESS DEVELOPED COUNTRY.—The term 

6 ‘‘less developed country’’ means a country with a 

7 low-income economy, a lower-middle-income econ8 omy, or an upper-middle-income economy (as de9 fined by the International Bank for Reconstruction 

10 and Development and the International Development 

11 Association (collectively referred to as the ‘‘World 

12 Bank’’)). 

13 (10) RELEVANT FEDERAL DEPARTMENTS AND

14 AGENCIES.—The term ‘‘relevant Federal depart15 ments and agencies’’ means— 

16 (A) the United States Agency for Inter17 national Development; 

18 (B) the Department of Agriculture; 

19 (C) the Foundation for Food and Agri20 culture Research; 

21 (D) the Department of Commerce; 

22 (E) the Department of State; 

23 (F) the Department of the Treasury; 

24 (G) the Millennium Challenge Corporation; 


tkelley on LAP7H3WLY3PROD with BILLS
5 

•S 3207 IS

1 (H) the United States International Devel2 opment Finance Corporation; 

3 (I) the Peace Corps; 

4 (J) the Office of the United States Trade 

5 Representative; 

6 (K) the United States African Develop7 ment Foundation; 

8 (L) the United States Geological Survey; 

9 (M) the United States Import-Export 

10 Bank; and 

11 (N) any other Federal department or agen12 cy specified by the President for purposes of 

13 this Act. 

14 (11) RESILIENCE.—The term ‘‘resilience’’ 

15 means the ability of people, households, commu16 nities, countries, and systems to mitigate, adapt to, 

17 and recover from shocks and stresses to food and 

18 nutrition security in a manner that reduces chronic 

19 vulnerability and facilitates inclusive and sustainable 

20 growth. 

21 SEC. 3. FOUNDATION FOR INTERNATIONAL FOOD SECU22 RITY. 

23 (a) ESTABLISHMENT.— 

24 (1) IN GENERAL.—Not later than 180 days 

25 after the date of the enactment of this Act, the SecVerDate Sep 11 2014 18:29 Nov 11, 2023 Jkt 049200 PO 00000 Frm 00005 Fmt 6652 Sfmt 6201 E:\BILLS\S3207.IS S3207

tkelley on LAP7H3WLY3PROD with BILLS
6 

•S 3207 IS

1 retary of State, in collaboration with the Secretary 

2 of Agriculture, shall establish the Foundation for 

3 International Food Security. 

4 (2) INDEPENDENCE.—The Foundation shall 

5 constitute an independent agency of the United 

6 States. Neither the Foundation nor any of its func7 tions, powers, or duties may be transferred to, or 

8 consolidated with, any other department, agency, or 

9 corporation of the Federal Government absent an 

10 Act of Congress to such effect. 

11 (3) TAX-EXEMPT STATUS.—The Board shall 

12 take all necessary and appropriate steps to ensure 

13 that the Foundation is established as an organiza14 tion described in subsection (c) of section 501 of the 

15 Internal Revenue Code of 1986, which exempts the 

16 organization from taxation under subsection (a) of 

17 such section. 

18 (b) PURPOSES.—The purposes of the Foundation 

19 are— 

20 (1) to accelerate sustainable agriculture-led in21 vestments that foster food security (both in the crop 

22 and livestock industries) and are focused on building 

23 sustainable resilient food systems by investing in— 


tkelley on LAP7H3WLY3PROD with BILLS
7 

•S 3207 IS

1 (A) infrastructure, such as irrigation, 

2 warehousing, storage, and food processing to 

3 prevent food loss; 

4 (B) applied agricultural research; and 

5 (C) technology deployment that reduces 

6 hunger and malnutrition; 

7 (2) to promote effective and data driven initia8 tives that increase agricultural productivity, reduce 

9 post-harvest loss, and increase global market access; 

10 (3) to set specific and measurable goals, bench11 marks, timetables, performance metrics, and moni12 toring and evaluation plans that reflect international 

13 best practices relating to transparency, account14 ability, food and nutrition security, and sustainable 

15 agriculture-led economic growth; 

16 (4) to advocate for, incentivize, accept, and ad17 minister funds (including governmental, nongovern18 mental, private sector, and philanthropic organiza19 tion funds, and earned income from market-based 

20 social enterprises) to increase the availability and 

21 predictability of financing selected food security and 

22 nutrition initiatives; 

23 (5) to deploy and scale technology and innova24 tion to reduce malnutrition; 


tkelley on LAP7H3WLY3PROD with BILLS
8 

•S 3207 IS

1 (6) to close critical gaps in public international 

2 food security and nutrition funding by— 

3 (A) reducing barriers to private sector 

4 funding and creating a more streamlined mech5 anism to increase private sector investment, in6 cluding investments from corporate and philan7 thropic entities; 

8 (B) collaborating with partners providing 

9 bilateral and multilateral financing to support 

10 enhanced coordination; 

11 (C) increasing and supporting domestic re12 source mobilization to strengthen national gov13 ernments’ ability to co-finance or co-contribute 

14 to Foundation efforts; and 

15 (D) taking steps to limit duplication with 

16 existing United States Government programs 

17 through consultation with the Board of Advi18 sors, relevant Federal departments and agen19 cies, eligible countries, and key stakeholders; 

20 (7) to identify and financially support imple21 mentation-ready projects that facilitate best agricul22 tural practices, technology-scaling efforts, infrastruc23 ture, and other efforts to increase farmers produc24 tivity and market access, while recognizing that the 


tkelley on LAP7H3WLY3PROD with BILLS
9 

•S 3207 IS

1 greatest benefits are based on an understanding of 

2 local socioeconomic and development challenges; 

3 (8) to coordinate with, and otherwise support 

4 and assist, foreign governments, private sector enti5 ties, local communities, and other stakeholders to 

6 improve food security, nutrition, and agriculture-led 

7 economic growth by supporting harmonized regu8 latory frameworks that encourage innovation and en9 terprise using an evidence based approach; 

10 (9) to coordinate with the United States Foun11 dation for International Conservation, once it is es12 tablished; and 

13 (10) to ensure the effective use of United 

14 States taxpayer dollars to further the objectives de15 scribed in paragraphs (1) through (9). 

16 SEC. 4. GOVERNANCE OF THE FOUNDATION. 

17 (a) BOARD OF DIRECTORS.— 

18 (1) GOVERNANCE.—The Foundation shall be 

19 governed by a Board of Directors, who may consult 

20 with the Board of Advisors when making decisions 

21 related to the Foundation’s work. 

22 (2) BOARD COMPOSITION.— 

23 (A) IN GENERAL.—The Board shall be 

24 composed of— 


tkelley on LAP7H3WLY3PROD with BILLS
10 

•S 3207 IS

1 (i) the appointed Directors described 

2 in subparagraph (B); and 

3 (ii) the nonvoting Directors or their 

4 respective appointees, including— 

5 (I) the Secretary of State; 

6 (II) the Administrator of the 

7 United States Agency for Inter8 national Development; 

9 (III) the Secretary of Agri10 culture; 

11 (IV) the Secretary of Commerce; 

12 and 

13 (V) the Secretary of the Treas14 ury. 

15 (B) APPOINTED DIRECTORS.—Subject to 

16 subparagraph (C), the nonvoting Directors re17 ferred to in subparagraph (A)(ii) shall appoint, 

18 by majority vote, as Directors of the Board— 

19 (i) 2 voting Directors who are inde20 pendent experts representing diverse points 

21 of view, to the maximum extent prac22 ticable; 

23 (ii) 2 voting Directors who are private 

24 sector donors or designees and have made 


tkelley on LAP7H3WLY3PROD with BILLS
11 

•S 3207 IS

1 a meaningful financial contribution to the 

2 Foundation; 

3 (iii) 3 nonvoting Directors who— 

4 (I) are not employed by a govern5 ment; 

6 (II) are recognized experts with 

7 relevant professional experience; and 

8 (III) represent Africa, Latin 

9 America, or Asia; and 

10 (iv) 4 voting Directors, of whom— 

11 (I) 1 shall be appointed by the 

12 majority leader of the Senate; 

13 (II) 1 shall be appointed by the 

14 minority leader of the Senate; 

15 (III) 1 shall be appointed by the 

16 Speaker of the House of Representa17 tives; and 

18 (IV) 1 shall be appointed by the 

19 minority leader of the House of Rep20 resentatives. 

21 (C) QUALIFICATIONS.—Each individual 

22 appointed to the Board pursuant to subpara23 graph (B) shall be knowledgeable and experi24 enced in 1 or more matters relating to— 


tkelley on LAP7H3WLY3PROD with BILLS
12 

•S 3207 IS

1 (i) agricultural production, livestock, 

2 land management, or forestry; 

3 (ii) agricultural economics, business 

4 development, technology deployment, mar5 ket access, agribusinesses (including food 

6 companies), market access, or relevant 

7 commodities groups; 

8 (iii) international finance and multi9 lateral governance; 

10 (iv) international development and 

11 market access; or 

12 (v) international nutrition and mal13 nutrition issues. 

14 (D) LIMITATION ON POLITICAL AFFILI15 ATION.—Both of the Directors of the Board 

16 who are appointed pursuant to subparagraph 

17 (B)(i) may not be members of the same political 

18 party. Both of the Directors of the Board who 

19 are appointed pursuant to subparagraph (B)(ii) 

20 may not be members of the same political 

21 party. 

22 (E) CHAIRPERSON.—The Board shall 

23 elect, from among the voting Directors ap24 pointed pursuant to subparagraph (B), a ChairVerDate Sep 11 2014 18:29 Nov 11, 2023 Jkt 049200 PO 00000 Frm 00012 Fmt 6652 Sfmt 6201 E:\BILLS\S3207.IS S3207

tkelley on LAP7H3WLY3PROD with BILLS
13 

•S 3207 IS

1 person, who shall serve in such position for a 2- 

2 year term. 

3 (F) VOTING.—All voting Directors of the 

4 Board appointed pursuant to subparagraph (B) 

5 shall have equal voting rights. 

6 (3) TERMS; VACANCIES.— 

7 (A) TERMS.— 

8 (i) IN GENERAL.—The term of service 

9 of each Director appointed pursuant to 

10 paragraph (2)(B) may not exceed 5 years. 

11 (ii) INITIAL APPOINTED DIRECTORS.— 

12 Of the initial Directors appointed pursuant 

13 to paragraph (3)(B)— 

14 (I) 5 Directors, including not 

15 fewer than 1 independent expert and 

16 1 private sector donor, shall serve for 

17 a 4-year term; and 

18 (II) 5 Directors shall serve for a 

19 5-year term, as determined by the 

20 Chairperson of the Board. 

21 (B) VACANCIES.—Any vacancy in the 

22 membership of the appointed Directors of the 

23 Board— 

24 (i) shall be filled in accordance with 

25 the bylaws of the Foundation established 


tkelley on LAP7H3WLY3PROD with BILLS
14 

•S 3207 IS

1 pursuant to paragraph (8)(A) by an indi2 vidual who meets the qualifications rep3 resented by the vacating Director; 

4 (ii) does not affect the power of the 

5 remaining appointed Directors to execute 

6 the duties of the Board; and 

7 (iii) shall be filled by an individual se8 lected by the Board. 

9 (4) QUORUM.—A majority of the membership 

10 of the Board shall constitute a quorum for the 

11 transaction of Foundation business. 

12 (5) MEETINGS.— 

13 (A) IN GENERAL.—The Board shall meet 

14 not less frequently than twice per year at the 

call of the Chairperson or by the approval of 2 15 ⁄3

16 of the voting members of the Board. 

17 (B) AUTHORITY.—The Board shall main18 tain full control and decision-making authority 

19 of the Foundation. 

20 (C) REMOVAL.—Any Director who is ab21 sent from 3 consecutive regularly scheduled 

22 meetings may be removed from the Board by a 

23 majority vote of the Board. 

24 (6) REIMBURSEMENT OF EXPENSES.—Directors 

25 of the Board shall serve without pay, but may be reVerDate Sep 11 2014 18:29 Nov 11, 2023 Jkt 049200 PO 00000 Frm 00014 Fmt 6652 Sfmt 6201 E:\BILLS\S3207.IS S3207

tkelley on LAP7H3WLY3PROD with BILLS
15 

•S 3207 IS

1 imbursed for the actual and necessary traveling and 

2 subsistence expenses incurred by such members in 

3 the performance of their duties on behalf of the 

4 Foundation. 

5 (7) NOT FEDERAL EMPLOYEES.—Appointment 

6 as a Director of the Board shall not constitute em7 ployment by, or the holding of an office of, the 

8 United States Government for purposes of any Fed9 eral law. 

10 (8) DUTIES.—The Board shall— 

11 (A) establish bylaws for the Foundation in 

12 accordance with paragraph (9); 

13 (B) provide overall direction for the activi14 ties of the Foundation and establish priority ac15 tivities; 

16 (C) carry out any other necessary activities 

17 of the Foundation; 

18 (D) evaluate the performance of the Exec19 utive Director; 

20 (E) take steps to limit the Foundation’s 

21 administrative expenses to the extent prac22 ticable; and 

23 (F) not less frequently than annually, con24 sult and coordinate with key stakeholders quali25 fied to provide advice, assistance, and informaVerDate Sep 11 2014 18:29 Nov 11, 2023 Jkt 049200 PO 00000 Frm 00015 Fmt 6652 Sfmt 6201 E:\BILLS\S3207.IS S3207

tkelley on LAP7H3WLY3PROD with BILLS
16 

•S 3207 IS

1 tion regarding efforts to strengthen food and 

2 nutrition security. 

3 (9) BYLAWS.— 

4 (A) IN GENERAL.—The bylaws established 

5 pursuant to paragraph (8)(A) shall include— 

6 (i) policies for the selection of Direc7 tors of the Board, Members of the Board 

8 of Advisors, and officers, employees, 

9 agents, and contractors of the Foundation, 

10 in accordance with subparagraphs (B) and 

11 (C) of paragraph (2); 

12 (ii) policies, including ethical stand13 ards, for— 

14 (I) the acceptance, solicitation, 

15 and disposition of donations and 

16 grants to the Foundation; and 

17 (II) the disposition of assets of 

18 the Foundation; 

19 (iii) policies that subject all employ20 ees, fellows, trainees, and other agents of 

21 the Foundation (including all of the Direc22 tors of the Board and all of the Members 

23 of the Board of Advisors) to conflict of in24 terest standards; 


tkelley on LAP7H3WLY3PROD with BILLS
17 

•S 3207 IS

1 (iv) the specific duties of the Execu2 tive Director; 

3 (v) policies for winding down the ac4 tivities of the Foundation upon its termi5 nation, including a plan— 

6 (I) to return unobligated appro7 priations to the Department of the 

8 Treasury; and 

9 (II) to donate unspent private 

10 and philanthropic contributions to 

11 projects that align with the goals and 

12 requirements described in this Act; 

13 and 

14 (vi) specific policies and requirements 

15 governing project criteria and eligible 

16 countries. 

17 (B) REQUIREMENTS.—The Board shall en18 sure the bylaws of the Foundation and the ac19 tivities carried out under such bylaws do not— 

20 (i) reflect unfavorably on the ability of 

21 the Foundation to carry out activities in a 

22 fair and objective manner; or 

23 (ii) compromise, or appear to com24 promise, the integrity of any governmental 

25 agency or program, or any officer or emVerDate Sep 11 2014 18:29 Nov 11, 2023 Jkt 049200 PO 00000 Frm 00017 Fmt 6652 Sfmt 6201 E:\BILLS\S3207.IS S3207

tkelley on LAP7H3WLY3PROD with BILLS
18 

•S 3207 IS

1 ployee employed by, or involved in, a gov2 ernmental agency or program. 

3 (b) BOARD OF ADVISORS COMPOSITION.— 

4 (1) IN GENERAL.—The Board of Advisors shall 

5 be composed of— 

6 (A) the Advisors designated pursuant to 

7 paragraph (2); and 

8 (B) the Advisors appointed pursuant to 

9 paragraph (3). 

10 (2) ADVISORS.—The following individuals, or 

11 designees of such individuals, shall serve as members 

12 of the Board of Advisors: 

13 (A) The Chief Executive Officer of the 

14 United States International Development Fi15 nance Corporation. 

16 (B) The Chief Executive Officer of the 

17 Millennium Challenge Corporation. 

18 (C) The Ambassador of the Office of the 

19 United States Trade Representative. 

20 (3) APPOINTED ADVISORS.—The Executive Di21 rector, in consultation with the Directors referred to 

22 in subsection (a)(2) and the Advisors referred to in 

23 subsection (b)(2), shall appoint, as members of the 

24 Board of Advisors— 


tkelley on LAP7H3WLY3PROD with BILLS
19 

•S 3207 IS

1 (A) 2 deans or other designated faculty 

2 members of United States land-grant colleges 

3 or universities that have an international agri4 culture program; and 

5 (B) 3 private sector or nongovernmental 

6 organization advisors who are experts in food 

7 systems or deployment of agricultural tech8 nologies. 

9 (4) QUALIFICATIONS.—Each individual ap10 pointed to the Board of Advisors pursuant to para11 graph (3) shall be knowledgeable and experienced in 

12 1 or more matters relating to the industries, institu13 tions, or issues described in subsection (a)(2)(C). 

14 (5) TERMS; VACANCIES.— 

15 (A) TERMS.—The term of service for each 

16 Advisor appointed pursuant to paragraph (3) 

17 shall be not more than 5 years. 

18 (B) VACANCIES.—Any vacancy in the 

19 membership of the appointed Advisors of the 

20 Board of Advisors— 

21 (i) shall be filled in accordance with 

22 the bylaws of the Foundation by a private 

23 sector expert who meets the qualifications 

24 described in subsection (a)(2)(C), as rep25 resented by the vacating Advisor; 


tkelley on LAP7H3WLY3PROD with BILLS
20 

•S 3207 IS

1 (ii) does not affect the power of the 

2 remaining appointed Advisors to execute 

3 the duties of the Board of Advisors; and 

4 (iii) shall be filled by an individual se5 lected by the Board. 

6 (6) DUTIES.—The Board of Advisors shall pro7 vide advice and consultation to the Board in accord8 ance with the bylaws established pursuant to sub9 section (a)(8)(A). 

10 (7) REMOVAL.—Any Advisor who is absent 

11 from 3 consecutive regularly scheduled meetings may 

12 be removed from the Board of Advisors by a major13 ity vote of the Board of Advisors. 

14 (c) PROCEDURES.— 

15 (1) INITIAL MEETING.—Not later than 90 days 

16 after the date of the enactment of this Act, the 

17 Chairperson shall convene a meeting of the members 

18 of the Board designated pursuant to subsection 

19 (a)(2)(A)(ii)— 

20 (A) to appoint the Directors of the Board 

21 in accordance with subsection (a)(2)(B); and 

22 (B) to incorporate the Foundation. 

23 (2) CONFLICTS OF INTEREST.— 

24 (A) IN GENERAL.—Except as provided in 

25 subparagraph (B), no voting member of the 


tkelley on LAP7H3WLY3PROD with BILLS
21 

•S 3207 IS

1 Board may participate in any decision, action, 

2 or recommendation with respect to any matter 

3 that directly and financially benefits such mem4 ber or pertains specifically to any public body 

5 or any private or nonprofit firm or organization 

6 with which such member is formally associated 

7 or was formally associated during the most re8 cent 2-year period. 

9 (B) EXCEPTION.—Subparagraph (A) may 

10 not be construed to prohibit a member of the 

11 Board from participating in actions of the 

12 Board pertaining specifically to the public body 

13 of which such member is an officer. 

14 (d) EXECUTIVE DIRECTOR; STAFF.— 

15 (1) EXECUTIVE DIRECTOR.—The Board shall 

16 hire a qualified individual to serve, at the pleasure 

17 of the Board, as the Executive Director of the Foun18 dation. 

19 (2) FOUNDATION STAFF.—Officers and employ20 ees of the Foundation— 

21 (A) may not be employees of, or hold any 

22 office in, the United States Government; 

23 (B) shall be appointed without regard to 

24 the provisions of— 


tkelley on LAP7H3WLY3PROD with BILLS
22 

•S 3207 IS

1 (i) title 5, United States Code, gov2 erning appointments in the competitive 

3 service; and 

4 (ii) chapter 51 and subchapter III of 

5 chapter 53 of such title, relating to classi6 fication and General Schedule pay rates; 

7 and 

8 (C) may not receive a salary at a rate in 

9 excess of 150 percent of the maximum rate of 

10 basic pay authorized for positions at level I of 

11 the Executive Schedule under section 5312 of 

12 title 5, United States Code, for any fiscal year. 

13 (e) LIMITATION; CONFLICTS OF INTERESTS.— 

14 (1) POLITICAL PARTICIPATION.—The Founda15 tion may not participate or intervene in any political 

16 activities on behalf of any candidate for public office 

17 in any country. 

18 (2) FINANCIAL INTERESTS.—All Directors of 

19 the Board, Advisors, officers, and employees of the 

20 Foundation may not participate (directly or indi21 rectly) in the consideration or determination of any 

22 question before the Foundation affecting— 

23 (A) the financial interests of such Director, 

24 officer, or employee; and 


tkelley on LAP7H3WLY3PROD with BILLS
23 

•S 3207 IS

1 (B) the interests of any corporation, part2 nership, entity, or organization in which such 

3 Director, officer, or employee has any fiduciary 

4 obligation or direct or indirect financial inter5 est. 

6 SEC. 5. CORPORATE POWERS AND OBLIGATIONS OF THE 

7 FOUNDATION. 

8 (a) GENERAL AUTHORITIES.— 

9 (1) IN GENERAL.—The Foundation— 

10 (A) may conduct business throughout the 

11 States, territories, and possessions of the 

12 United States and in foreign countries; 

13 (B) shall have its principal offices in the 

14 Washington, DC, metropolitan area; and 

15 (C) shall continuously maintain a des16 ignated agent in Washington, DC, who is au17 thorized to accept notice or service of process 

18 on behalf of the Foundation. 

19 (2) NOTICE AND SERVICE OF PROCESS.—The 

20 serving of notice to, or service of process upon, the 

21 agent referred to in paragraph (1)(C), or mailed to 

22 the business address of such agent, shall be deemed 

23 as service upon, or notice to, the Foundation. 


tkelley on LAP7H3WLY3PROD with BILLS
24 

•S 3207 IS

1 (3) SEAL.—The Foundation shall have an offi2 cial seal, which shall be selected by the Board and 

3 judicially noticed. 

4 (b) AUTHORITIES.—In addition to powers explicitly 

5 authorized under this Act, the Foundation, in order to 

6 carry out the purposes described in section 3(b), shall have 

7 the usual powers of a corporation headquartered in Wash8 ington, DC, including the authority— 

9 (1) to accept, receive, solicit, hold, administer, 

10 and use any gift, devise, or bequest, either absolutely 

11 or in trust, or real or personal property or any in12 come derived from such gift or property, or other in13 terest in such gift or property; 

14 (2) to acquire by donation, gift, devise, pur15 chase, or exchange any real or personal property or 

16 interest in such property; 

17 (3) unless otherwise required by the instrument 

18 of transfer, to sell, donate, lease, invest, reinvest, re19 tain, or otherwise dispose of any property or income 

20 derived from such property; 

21 (4) to borrow money and issue bonds, deben22 tures, or other debt instruments; 

23 (5) to complain and defend itself in any court 

24 of competent jurisdiction (except that the Directors 


tkelley on LAP7H3WLY3PROD with BILLS
25 

•S 3207 IS

1 of the Board shall not be personally liable, except for 

2 gross negligence); 

3 (6) to enter into legal arrangements with public 

4 agencies, private organizations, and persons and to 

5 make such payments as may be necessary to carry 

6 out the purposes of such contracts or arrangements; 

7 and 

8 (7) to award funding, which may include 

9 project financing, grants, and concessional lending, 

10 for eligible projects, in accordance with section 7. 

11 (c) FEDERAL FUNDS.— 

12 (1) IN GENERAL.—The Foundation may— 

13 (A) hold Federal funds made available, but 

14 not immediately disbursed; and 

15 (B) use any interest or other investment 

16 income earned on such Federal funds to carry 

17 out the purposes of the Foundation under this 

18 Act. 

19 (2) LIMITATION.—Investments made with Fed20 eral funds pursuant to paragraph (1)(B) may only 

21 be made in— 

22 (A) interest-bearing obligations of the 

23 United States; or 

24 (B) obligations guaranteed as to both prin25 cipal and interest by the United States. 


tkelley on LAP7H3WLY3PROD with BILLS
26 

•S 3207 IS

1 (d) LIMITATION OF PUBLIC LIABILITY.—The United 

2 States shall not be liable for any debts, defaults, acts, or 

3 omissions of the Foundation. 

4 SEC. 6. SAFEGUARDS AND ACCOUNTABILITY. 

5 (a) SAFEGUARDS.—The Foundation shall develop, 

6 and incorporate into any agreement for support provided 

7 by the Foundation, appropriate safeguards, policies, and 

8 guidelines, consistent with internationally recognized best 

9 practices and standards for environmental and social safe10 guards. 

11 (b) INDEPENDENT ACCOUNTABILITY MECHANISM.— 

12 (1) IN GENERAL.—The Foundation shall estab13 lish a transparent and independent accountability 

14 mechanism, which shall provide— 

15 (A) a compliance review function that as16 sesses whether Foundation-supported projects 

17 adhere to the requirements developed pursuant 

18 to subsection (a); 

19 (B) a dispute resolution function for re20 solving concerns between project implementers 

21 regarding the impacts of specific Foundation22 supported projects with respect to such stand23 ards; and 


tkelley on LAP7H3WLY3PROD with BILLS
27 

•S 3207 IS

1 (C) an advisory function that reports to 

2 the Foundation on projects, policies, and prac3 tices. 

4 (2) DUTIES.—The accountability mechanism es5 tablished pursuant to paragraph (1) shall— 

6 (A) report annually to the Board and to 

7 the appropriate congressional committees re8 garding the Foundation’s compliance with inter9 nationally recognized best practices and stand10 ards in accordance with paragraph (1)(A); 

11 (B)(i) have permanent staff to conduct 

12 compliance reviews and dispute resolutions; or 

13 (ii) maintain a roster of experts to serve 

14 such roles, to the extent needed; and 

15 (C) hold a public comment period lasting 

16 not fewer than 60 days regarding the initial de17 sign of the accountability mechanism. 

18 SEC. 7. PROJECTS, FINANCING, AND GRANTS. 

19 (a) PROJECT FUNDING REQUIREMENTS.— 

20 (1) IN GENERAL.—The Foundation shall award 

21 funding, which may include project financing, credit 

22 risk insurance, grants, concessional lending, and 

23 credit, in accordance with this section for eligible 

24 projects described in paragraph (1) that will— 

25 (A) increase productivity and incomes; and 


tkelley on LAP7H3WLY3PROD with BILLS
28 

•S 3207 IS

1 (B) improve the livelihoods and nutrition 

2 of producers and communities. 

3 (2) ELIGIBLE PROJECTS.—A project is an eligi4 ble project if it seeks— 

5 (A) to have cost matching from sources 

6 other than the United States Government and 

7 regional multilateral organizations; 

8 (B) to be implemented in coordination with 

9 key stakeholders; 

10 (C) to incorporate a set of key independ11 ently verified performance metrics at the port12 folio level, including rigorous measurements, 

13 such as measuring attributable increases in ag14 ricultural yields, infrastructure, or any other el15 igible use; 

16 (D) to not duplicate the work of other in17 stitutions or displace current profit-making ven18 tures; 

19 (E) to leverage existing infrastructure and 

20 staff in eligible countries to allow for the imme21 diate launch of projects; 

22 (F) to demonstrate— 

23 (i) the ability to sustainably maintain 

24 and build on the outcomes of the project 


tkelley on LAP7H3WLY3PROD with BILLS
29 

•S 3207 IS

1 after the Foundation funding has ended; 

2 or 

3 (ii) a plan to strengthen the capacity 

4 of, and transfer skills and technologic tools 

5 to, local enterprises, organizations, or insti6 tutions to manage projects and other fund7 ed entities after the Foundation funding 

8 has been expended; 

9 (G) to consider projects that meet the 

10 highest needs of food insecure populations 

11 based on food security and malnutrition assess12 ments; and 

13 (H) to not duplicate the efforts included in 

14 the comprehensive global food security strategy 

15 implemented pursuant to section 5 of the Glob16 al Food Security Act of 2016 (22 U.S.C. 9304). 

17 (b) ELIGIBLE COUNTRIES.— 

18 (1) IN GENERAL.—Before entering into any 

19 project agreement pursuant to this section, the 

20 Board shall— 

21 (A) establish criteria to determine country 

22 eligibility for the award period; and 

23 (B) identify not more than 10 countries to 

24 receive support during such award period 

25 that— 


tkelley on LAP7H3WLY3PROD with BILLS
30 

•S 3207 IS

1 (i) are committed to make necessary 

2 policy reforms, in accordance with sub3 section (a)(2), to help transform food sys4 tems; 

5 (ii) have demonstrated leadership to 

6 modernize their agricultural food systems; 

7 (iii) are committed to cofinance and 

8 sustain long-term projects implemented by 

9 the Foundation; 

10 (iv) are committed to collaborate with 

11 key stakeholders to increase agricultural 

12 production, strengthen resilient food sys13 tems, improve food safety or processing, 

14 increase access to safe, affordable, and nu15 tritious foods, and improve related logistics 

16 and supply chain processes; and 

17 (v) are representatives of geographi18 cally diverse regions. 

19 (2) IDENTIFICATION OF ELIGIBLE COUN20 TRIES.—Not later than 5 days after the date on 

21 which the Board identifies the eligible countries for 

22 a given fiscal year, the Executive Director shall— 

23 (A) submit a report to the appropriate con24 gressional committees that includes— 


tkelley on LAP7H3WLY3PROD with BILLS
31 

•S 3207 IS

1 (i) a list of such eligible countries; 

2 and 

3 (ii) justification for such eligibility de4 terminations; and 

5 (B) publish the information contained in 

6 the report described in subparagraph (A) in the 

7 Federal Register. 

8 (c) FUNDING AUTHORIZED.— 

9 (1) IN GENERAL.—In order to maximize the im10 pact of the funding authorized under this section, 

11 the Foundation should— 

12 (A) coordinate with other international 

13 public and private donors to the extent possible; 

14 and 

15 (B) seek additional financial and non16 financial contributions and commitments for its 

17 projects from host governments. 

18 (2) FUNDING CRITERIA.—Funding awarded 

19 pursuant to this section— 

20 (A) shall be provided to countries that 

21 demonstrate progress, during the funding pe22 riod, in achieving clearly identified key perform23 ance indicators defined in the project agree24 ment, which may include— 


tkelley on LAP7H3WLY3PROD with BILLS
32 

•S 3207 IS

1 (i) increasing agricultural or food pro2 duction through the competitive delivery of 

3 market-based financing, distribution and 

4 extension services, and supporting tech5 nology commercialization and adoption 

6 through such services; 

7 (ii) improving the nutritional status of 

8 the citizens of partner countries by— 

9 (I) increasing the production, 

10 availability, and access of nutritious 

11 foods domestically; 

12 (II) promoting highly nutritious 

13 foods, diet diversification, and nutri14 tional behaviors that improve mater15 nal and child health; and 

16 (III) supporting the expansion of 

17 producer market opportunities; 

18 (iii) building resilient food systems to 

19 help mitigate against future food shocks 

20 among vulnerable populations and house21 holds; and 

22 (iv) identifying additional revenue 

23 sources or sustainable financing mecha24 nisms to meet the recurring costs of 

25 projects by serving as a conduit between 


tkelley on LAP7H3WLY3PROD with BILLS
33 

•S 3207 IS

1 institutional investors and the agribusiness 

2 sector; and 

3 (B) may be terminated if the Board deter4 mines that the country receiving such fund5 ing— 

6 (i) is not meeting applicable require7 ments under this Act; or 

8 (ii) is not making progress in achiev9 ing the key performance indicators de10 scribed in the project agreement. 

11 SEC. 8. PROHIBITION OF SUPPORT IN COUNTRIES THAT 

12 SUPPORT TERRORISM OR VIOLATE HUMAN 

13 RIGHTS AND OF SUPPORT FOR SANCTIONED 

14 PERSONS. 

15 (a) IN GENERAL.—The Foundation may not provide 

16 support for any government, or any entity owned or con17 trolled by a government, if the Secretary of State deter18 mines that such government— 

19 (1) has repeatedly provided support for acts of 

20 international terrorism, as determined under— 

21 (A) section 1754(c)(1)(A)(i) of the Export 

22 Control Reform Act of 2018 (50 U.S.C. 

23 4813(c)(1)(A)(i)); 

24 (B) section 620A(a) of the Foreign Assist25 ance Act of 1961 (22 U.S.C. 2371(a)); 


tkelley on LAP7H3WLY3PROD with BILLS
34 

•S 3207 IS

1 (C) section 40(d) of the Arms Export Con2 trol Act (22 U.S.C. 2780(d)); or 

3 (D) any other relevant provision of law; 

4 (2) has repeatedly engaged with any organiza5 tions designated as foreign terrorist organizations by 

6 the Secretary in accordance with section 219 of the 

7 Immigration and Nationality Act (8 U.S.C. 1189); 

8 or 

9 (3) has engaged in a consistent pattern of gross 

10 violations of human rights, as determined under sec11 tion 116(a) or 502B(a)(2) of the Foreign Assistance 

12 Act of 1961 (22 U.S.C. 2151n(a) and 2304(a)(2)) 

13 or any other relevant provision of law. 

14 (b) PROHIBITION OF SUPPORT FOR SANCTIONED

15 PERSONS.—The Foundation may not engage in any deal16 ing prohibited under United States sanctions laws or regu17 lations, including dealings with persons on the list of spe18 cially designated persons and blocked persons maintained 

19 by the Office of Foreign Assets Control of the Department 

20 of the Treasury, except to the extent otherwise authorized 

21 by the Secretary of State or the Secretary of the Treasury. 

22 (c) WAIVER.—The President may waive the applica23 tion of subsections (a) and (b) with respect to any govern24 ment, or any entity owned or controlled by a government, 

25 by notifying the appropriate congressional committees of 


tkelley on LAP7H3WLY3PROD with BILLS
35 

•S 3207 IS

1 the intention to exercise such waiver not later than 45 

2 days before the waiver is scheduled to take effect. 

3 SEC. 9. ANNUAL REPORT. 

4 Not later than 1 year after the date of the enactment 

5 of this Act, and annually thereafter while the Foundation 

6 is operational, the Executive Director of the Foundation 

7 shall submit a report containing the expectations of the 

8 year ahead to the appropriate congressional committees 

9 and make such report available to key stakeholders. Each 

10 such report shall describe— 

11 (1) the goals of the Foundation for the upcom12 ing year; 

13 (2) lessons learned and best practices developed 

14 through projects funded by the Foundation during 

15 the prior fiscal year; 

16 (3) the extent to which such projects have con17 tributed to achieving the purposes of the Founda18 tion; 

19 (4) lessons learned and best practices developed 

20 from investments provided by the Foundation during 

21 the prior fiscal year; 

22 (5) the extent to which such investments have 

23 contributed to achieving the purposes of the Foun24 dation; 


tkelley on LAP7H3WLY3PROD with BILLS
36 

•S 3207 IS

1 (6) the programs, projects, and activities sup2 ported by the Foundation; 

3 (7) the value of private sector assets invested in 

4 such programs, projects, and activities relative to the 

5 amount of support provided by the Foundation and 

6 the value of any other public sector support; 

7 (8) the standardized criteria utilized to deter8 mine the programs and activities supported by the 

9 Foundation, including baselines, targets, desired out10 comes, measurable goals, and extent to which those 

11 goals are being achieved for each project; 

12 (9) the degree to which programs, projects, and 

13 activities of the Foundation are coordinated and 

14 aligned with— 

15 (A) existing United States bilateral assist16 ance programs and foundations; 

17 (B) relevant activities of other key stake18 holders; and 

19 (C) relevant multilateral efforts; and 

20 (10) how the funding and selected projects au21 thorized under this Act were publicized in the se22 lected country to expand recognition for the United 

23 States. 


tkelley on LAP7H3WLY3PROD with BILLS
37 

•S 3207 IS

1 SEC. 10. AUTHORIZATION OF APPROPRIATIONS. 

2 (a) IN GENERAL.—There are authorized to be appro3 priated to the Foundation $100,000,000 for each of the 

4 fiscal years 2024 through 2033 to carry out this Act. Such 

5 funding shall be used as an additive investment vehicle 

6 that— 

7 (1) independently leverages private investments; 

8 and 

9 (2) does not duplicate existing United States 

10 Government investments. 

11 (b) COST MATCHING REQUIREMENT.—Amounts ap12 propriated pursuant to subsection (a) may only be made 

13 available to the Foundation to the extent the Foundation 

14 secures funding from sources other than the United States 

15 Government. 

16 (c) CONSULTATION REQUIREMENT.—Not later than 

17 180 days after the date of the enactment of this Act, and 

18 before obligating any funds made available under this Act, 

19 the Executive Director, in coordination with the Secretary, 

20 shall consult with the Committee on Appropriations of the 

21 Senate, the Committee on Foreign Relations of the Sen22 ate, the Committee on Appropriations of the House of 

23 Representatives, and the Committee on Foreign Affairs of 

24 the House of Representatives regarding the proposed uses 

25 of such funds. 

Æ 


tkelley on LAP7H3WLY3PROD with BILLS