‘‘(2) purchase from the private market loans or 
other debt or equity instruments guaranteed in 
whole or in part by any member agency of the Com-
mittee; and 
‘‘(3) participate in agency loans or loan guaran-
tees in an amount less than 100 percent of the prin-
cipal amount of financing. 
‘‘(c) PURCHASE NOT FOR RESALE.—As directed by 
the Interagency Committee for the Coordination of Na-
tional Development Financing Programs in accordance 
with the National Development Strategy established under 
section 3(d) of the National Development Strategy and 
Coordination Act of 2023, the Bank may, as necessary, 
purchase not for resale to the private market any loans 
or other debt or equity instruments described in sub-
section (b)(2). 
‘‘SEC. 22. SECONDARY MARKET OPERATIONS. 
‘‘Except as otherwise provided in the National Devel-
opment Strategy and Coordination Act of 2023, obliga-
tions purchased by the Bank may be resold in the sec-
ondary market in a similar manner to secondary market 
sales of Treasury notes. 
‘‘SEC. 23. OMBUDSMAN. 
‘‘The Board of Directors of the Bank shall designate 
an official as the Ombudsman who shall— 
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‘‘(1) review investments made by the Bank on 
projects or partnerships identified by the Inter-
agency Committee for the Coordination of National 
Development Financing Programs; 
‘‘(2) review the risk profiles and performance of 
any such projects or partnerships; 
‘‘(3) provide oversight relating to any such 
projects or partnerships; and 
‘‘(4) provide annually to the appropriate con-
gressional committees a report detailing investments 
made by the Bank in projects or partnerships identi-
fied by the Interagency Committee for the Coordina-
tion of National Development Financing Programs, 
the performance of such investments, and any new 
or existing investments that may present cause for 
concern regarding the potential of repayment or lack 
of alignment with strategic directives.’’. 
(b) FEDERAL CREDIT REFORM ACT.—If the Com-
mittee determines that a project or partnership receiving 
financial assistance through any member agency is invest-
ing in frontier technologies for which no reasonable mar-
ket comparison exists, obligations purchased in connection 
with such project or partnership by the Federal Financing 
Bank under section 21 of the Federal Financing Bank Act 
of 1973, as added by subsection (a) of this section, shall 
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not be subject to the Federal Credit Reform Act of 1990 
(2 U.S.C. 661 et seq.). 
SEC. 5. AUTHORIZATION OF APPROPRIATIONS FOR THE 
FEDERAL FINANCING BANK. 
(a) IN GENERAL.—There is authorized to be appro-
priated to the Federal Financing Bank, to remain avail-
able for 10 years after the date of distribution, to carry 
out projects and partnerships selected by the Interagency 
Committee for the Coordination of National Development 
Financing Programs established under section 3 of this 
Act— 
(1) for fiscal year 2024, $5,000,000,000; 
(2) for fiscal year 2025, $5,000,000,000; 
(3) for fiscal year 2026, $5,000,000,000; and 
(4) for fiscal year 2027, $5,000,000,000; 
(b) SET ASIDE.—Not more than 2 percent of funds 
appropriated under this section shall be utilized for admin-
istrative costs, including the hiring of new staff to oversee 
and accomplish the functions of the Federal Financing 
Bank. 
(c) SENSE OF CONGRESS.—It is the sense of Con-
gress that the Federal Financing Bank should use 
amounts appropriated under this section as soon as pos-
sible. 
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SEC. 6. PROHIBITIONS AND POLICY. 
(a) PROHIBITION.—No funding or authorities pro-
vided under this Act may be used to support projects or 
partnerships with any entity of concern. 
(b) POLICIES.—Not later than 180 days after the 
date of enactment of this Act, the Committee shall estab-
lish policies to ensure that any support to projects or part-
nerships provided by the Federal Financing Bank in ac-
cordance with this Act— 
(1) includes assurances that no support pro-
vided in such project or partnership shall be used to 
expand operations in a country of concern; 
(2) includes protections to ensure against trans-
fer of intellectual property to countries of concern; 
and 
(3) includes requirements that any firm partici-
pating in a project or partnership funded by this Act 
disclose any affiliate, parent company, or subsidiary 
located in a country of concern. 
Æ 
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