Foundation for International Food Security Act of 2023

Bill: 118-s-3207
Sponsor: full_name: Sen. Graham, Lindsey [R-SC]
Introduced: 2023-11-02
Policy area: International Affairs
Latest action: action_date: 2023-11-02
text: Read twice and referred to the Committee on Foreign Relations.

Summaries:

tv_txt: II 118th CONGRESS 1st Session S. 3207 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. Short title; table of contents (a) Short title This Act may be cited as the Foundation for International Food Security Act of 2023 . (b) Table of contents The table of contents for 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. 2. Definitions In this Act: (1) Appropriate congressional committees The term appropriate congressional committees means— (A) the Committee on Foreign Relations of the Senate ; (B) the Committee on Agriculture, Nutrition, and Forestry of the Senate; (C) the Committee on Appropriations of the Senate ; (D) the Committee on Foreign Affairs of the House of Representatives ; (E) the Committee on Agriculture of the House of Representatives ; and (F) the Committee on Appropriations of the House of Representatives . (2) Board The term Board means the Board of Directors established pursuant to section 4(a). (3) Director The term Director means— (A) an initial member of the Board appointed pursuant to section 4(a)(2)(B); or (B) a member of the Board selected to fill a vacancy pursuant to section 4(a)(3)(B). (4) Eligible country The term eligible country means any of the countries described in section 7(b). (5) Eligible project The term eligible project means any of the projects described in section 7(a)(2). (6) Executive director The term Executive Director means the Executive Director of the Foundation hired pursuant to section 4(c). (7) Foundation The term Foundation means the Foundation for International Food Security established pursuant to section 3(a). (8) Key stakeholders The term key stakeholders has the meaning given such term in section 4(6) of the Global Food Security Act of 2016 ( 22 U.S.C. 9303(6) ). (9) Less developed country The term less developed country means a country with a low-income economy, a lower-middle-income economy, or an upper-middle-income economy (as defined by the International Bank for Reconstruction and Development and the International Development Association (collectively referred to as the World Bank )). (10) Relevant federal departments and agencies The term relevant Federal departments and agencies means— (A) the United States Agency for International Development; (B) the Department of Agriculture; (C) the Foundation for Food and Agriculture Research; (D) the Department of Commerce; (E) the Department of State; (F) the Department of the Treasury; (G) the Millennium Challenge Corporation; (H) the United States International Development Finance Corporation; (I) the Peace Corps; (J) the Office of the United States Trade Representative; (K) the United States African Development Foundation; (L) the United States Geological Survey; (M) the United States Import-Export Bank; and (N) any other Federal department or agency specified by the President for purposes of this Act. (11) Resilience The term resilience means the ability of people, households, communities, countries, and systems to mitigate, adapt to, and recover from shocks and stresses to food and nutrition security in a manner that reduces chronic vulnerability and facilitates inclusive and sustainable growth. 3. Foundation for International Food Security (a) Establishment (1) In general Not later than 180 days after the date of the enactment of this Act, the Secretary of State, in collaboration with the Secretary of Agriculture, shall establish the Foundation for International Food Security. (2) Independence The Foundation shall constitute an independent agency of the United States. Neither the Foundation nor any of its functions, powers, or duties may be transferred to, or consolidated with, any other department, agency, or corporation of the Federal Government absent an Act of Congress to such effect. (3) Tax-exempt status The Board shall take all necessary and appropriate steps to ensure that the Foundation is established as an organization described in subsection (c) of section 501 of the Internal Revenue Code of 1986, which exempts the organization from taxation under subsection (a) of such section. (b) Purposes The purposes of the Foundation are— (1) to accelerate sustainable agriculture-led investments that foster food security (both in the crop and livestock industries) and are focused on building sustainable resilient food systems by investing in— (A) infrastructure, such as irrigation, warehousing, storage, and food processing to prevent food loss; (B) applied agricultural research; and (C) technology deployment that reduces hunger and malnutrition; (2) to promote effective and data driven initiatives that increase agricultural productivity, reduce post-harvest loss, and increase global market access; (3) to set specific and measurable goals, benchmarks, timetables, performance metrics, and monitoring and evaluation plans that reflect international best practices relating to transparency, accountability, food and nutrition security, and sustainable agriculture-led economic growth; (4) to advocate for, incentivize, accept, and administer funds (including governmental, nongovernmental, private sector, and philanthropic organization funds, and earned income from market-based social enterprises) to increase the availability and predictability of financing selected food security and nutrition initiatives; (5) to deploy and scale technology and innovation to reduce malnutrition; (6) to close critical gaps in public international food security and nutrition funding by— (A) reducing barriers to private sector funding and creating a more streamlined mechanism to increase private sector investment, including investments from corporate and philanthropic entities; (B) collaborating with partners providing bilateral and multilateral financing to support enhanced coordination; (C) increasing and supporting domestic resource mobilization to strengthen national governments’ ability to co-finance or co-contribute to Foundation efforts; and (D) taking steps to limit duplication with existing United States Government programs through consultation with the Board of Advisors, relevant Federal departments and agencies, eligible countries, and key stakeholders; (7) to identify and financially support implementation-ready projects that facilitate best agricultural practices, technology-scaling efforts, infrastructure, and other efforts to increase farmers productivity and market access, while recognizing that the greatest benefits are based on an understanding of local socioeconomic and development challenges; (8) to coordinate with, and otherwise support and assist, foreign governments, private sector entities, local communities, and other stakeholders to improve food security, nutrition, and agriculture-led economic growth by supporting harmonized regulatory frameworks that encourage innovation and enterprise using an evidence based approach; (9) to coordinate with the United States Foundation for International Conservation, once it is established; and (10) to ensure the effective use of United States taxpayer dollars to further the objectives described in paragraphs (1) through (9). 4. Governance of the Foundation (a) Board of Directors (1) Governance The Foundation shall be governed by a Board of Directors, who may consult with the Board of Advisors when making decisions related to the Foundation’s work. (2) Board composition (A) In general The Board shall be composed of— (i) the appointed Directors described in subparagraph (B); and (ii) the nonvoting Directors or their respective appointees, including— (I) the Secretary of State; (II) the Administrator of the United States Agency for International Development; (III) the Secretary of Agriculture; (IV) the Secretary of Commerce; and (V) the Secretary of the Treasury. (B) Appointed directors Subject to subparagraph (C), the nonvoting Directors referred to in subparagraph (A)(ii) shall appoint, by majority vote, as Directors of the Board— (i) 2 voting Directors who are independent experts representing diverse points of view, to the maximum extent practicable; (ii) 2 voting Directors who are private sector donors or designees and have made a meaningful financial contribution to the Foundation; (iii) 3 nonvoting Directors who— (I) are not employed by a government; (II) are recognized experts with relevant professional experience; and (III) represent Africa, Latin America, or Asia; and (iv) 4 voting Directors, of whom— (I) 1 shall be appointed by the majority leader of the Senate; (II) 1 shall be appointed by the minority leader of the Senate; (III) 1 shall be appointed by the Speaker of the House of Representatives; and (IV) 1 shall be appointed by the minority leader of the House of Representatives. (C) Qualifications Each individual appointed to the Board pursuant to subparagraph (B) shall be knowledgeable and experienced in 1 or more matters relating to— (i) agricultural production, livestock, land management, or forestry; (ii) agricultural economics, business development, technology deployment, market access, agribusinesses (including food companies), market access, or relevant commodities groups; (iii) international finance and multilateral governance; (iv) international development and market access; or (v) international nutrition and malnutrition issues. (D) Limitation on political affiliation Both of the Directors of the Board who are appointed pursuant to subparagraph (B)(i) may not be members of the same political party. Both of the Directors of the Board who are appointed pursuant to subparagraph (B)(ii) may not be members of the same political party. (E) Chairperson The Board shall elect, from among the voting Directors appointed pursuant to subparagraph (B), a Chairperson, who shall serve in such position for a 2-year term. (F) Voting All voting Directors of the Board appointed pursuant to subparagraph (B) shall have equal voting rights. (3) Terms; vacancies (A) Terms (i) In general The term of service of each Director appointed pursuant to paragraph (2)(B) may not exceed 5 years. (ii) Initial appointed directors Of the initial Directors appointed pursuant to paragraph (3)(B)— (I) 5 Directors, including not fewer than 1 independent expert and 1 private sector donor, shall serve for a 4-year term; and (II) 5 Directors shall serve for a 5-year term, as determined by the Chairperson of the Board. (B) Vacancies Any vacancy in the membership of the appointed Directors of the Board— (i) shall be filled in accordance with the bylaws of the Foundation established pursuant to paragraph (8)(A) by an individual who meets the qualifications represented by the vacating Director; (ii) does not affect the power of the remaining appointed Directors to execute the duties of the Board; and (iii) shall be filled by an individual selected by the Board. (4) Quorum A majority of the membership of the Board shall constitute a quorum for the transaction of Foundation business. (5) Meetings (A) In general The Board shall meet not less frequently than twice per year at the call of the Chairperson or by the approval of 2/3 of the voting members of the Board. (B) Authority The Board shall maintain full control and decision-making authority of the Foundation. (C) Removal Any Director who is absent from 3 consecutive regularly scheduled meetings may be removed from the Board by a majority vote of the Board. (6) Reimbursement of expenses Directors of the Board shall serve without pay, but may be reimbursed for the actual and necessary traveling and subsistence expenses incurred by such members in the performance of their duties on behalf of the Foundation. (7) Not Federal employees Appointment as a Director of the Board shall not constitute employment by, or the holding of an office of, the United States Government for purposes of any Federal law. (8) Duties The Board shall— (A) establish bylaws for the Foundation in accordance with paragraph (9); (B) provide overall direction for the activities of the Foundation and establish priority activities; (C) carry out any other necessary activities of the Foundation; (D) evaluate the performance of the Executive Director; (E) take steps to limit the Foundation’s administrative expenses to the extent practicable; and (F) not less frequently than annually, consult and coordinate with key stakeholders qualified to provide advice, assistance, and information regarding efforts to strengthen food and nutrition security. (9) Bylaws (A) In general The bylaws established pursuant to paragraph (8)(A) shall include— (i) policies for the selection of Directors of the Board, Members of the Board of Advisors, and officers, employees, agents, and contractors of the Foundation, in accordance with subparagraphs (B) and (C) of paragraph (2); (ii) policies, including ethical standards, for— (I) the acceptance, solicitation, and disposition of donations and grants to the Foundation; and (II) the disposition of assets of the Foundation; (iii) policies that subject all employees, fellows, trainees, and other agents of the Foundation (including all of the Directors of the Board and all of the Members of the Board of Advisors) to conflict of interest standards; (iv) the specific duties of the Executive Director; (v) policies for winding down the activities of the Foundation upon its termination, including a plan— (I) to return unobligated appropriations to the Department of the Treasury; and (II) to donate unspent private and philanthropic contributions to projects that align with the goals and requirements described in this Act; and (vi) specific policies and requirements governing project criteria and eligible countries. (B) Requirements The Board shall ensure the bylaws of the Foundation and the activities carried out under such bylaws do not— (i) reflect unfavorably on the ability of the Foundation to carry out activities in a fair and objective manner; or (ii) compromise, or appear to compromise, the integrity of any governmental agency or program, or any officer or employee employed by, or involved in, a governmental agency or program. (b) Board of Advisors composition (1) In general The Board of Advisors shall be composed of— (A) the Advisors designated pursuant to paragraph (2); and (B) the Advisors appointed pursuant to paragraph (3). (2) Advisors The following individuals, or designees of such individuals, shall serve as members of the Board of Advisors: (A) The Chief Executive Officer of the United States International Development Finance Corporation. (B) The Chief Executive Officer of the Millennium Challenge Corporation. (C) The Ambassador of the Office of the United States Trade Representative. (3) Appointed advisors The Executive Director, in consultation with the Directors referred to in subsection (a)(2) and the Advisors referred to in subsection (b)(2), shall appoint, as members of the Board of Advisors— (A) 2 deans or other designated faculty members of United States land-grant colleges or universities that have an international agriculture program; and (B) 3 private sector or nongovernmental organization advisors who are experts in food systems or deployment of agricultural technologies. (4) Qualifications Each individual appointed to the Board of Advisors pursuant to paragraph (3) shall be knowledgeable and experienced in 1 or more matters relating to the industries, institutions, or issues described in subsection (a)(2)(C). (5) Terms; vacancies (A) Terms The term of service for each Advisor appointed pursuant to paragraph (3) shall be not more than 5 years. (B) Vacancies Any vacancy in the membership of the appointed Advisors of the Board of Advisors— (i) shall be filled in accordance with the bylaws of the Foundation by a private sector expert who meets the qualifications described in subsection (a)(2)(C), as represented by the vacating Advisor; (ii) does not affect the power of the remaining appointed Advisors to execute the duties of the Board of Advisors; and (iii) shall be filled by an individual selected by the Board. (6) Duties The Board of Advisors shall provide advice and consultation to the Board in accordance with the bylaws established pursuant to subsection (a)(8)(A). (7) Removal Any Advisor who is absent from 3 consecutive regularly scheduled meetings may be removed from the Board of Advisors by a majority vote of the Board of Advisors. (c) Procedures (1) Initial meeting Not later than 90 days after the date of the enactment of this Act, the Chairperson shall convene a meeting of the members of the Board designated pursuant to subsection (a)(2)(A)(ii)— (A) to appoint the Directors of the Board in accordance with subsection (a)(2)(B); and (B) to incorporate the Foundation. (2) Conflicts of interest (A) In general Except as provided in subparagraph (B), no voting member of the Board may participate in any decision, action, or recommendation with respect to any matter that directly and financially benefits such member or pertains specifically to any public body or any private or nonprofit firm or organization with which such member is formally associated or was formally associated during the most recent 2-year period. (B) Exception Subparagraph (A) may not be construed to prohibit a member of the Board from participating in actions of the Board pertaining specifically to the public body of which such member is an officer. (d) Executive Director; staff (1) Executive director The Board shall hire a qualified individual to serve, at the pleasure of the Board, as the Executive Director of the Foundation. (2) Foundation staff Officers and employees of the Foundation— (A) may not be employees of, or hold any office in, the United States Government; (B) shall be appointed without regard to the provisions of— (i) title 5, United States Code, governing appointments in the competitive service; and (ii) chapter 51 and subchapter III of chapter 53 of such title, relating to classification and General Schedule pay rates; and (C) may not receive a salary at a rate in excess of 150 percent of the maximum rate of basic pay authorized for positions at level I of the Executive Schedule under section 5312 of title 5, United States Code, for any fiscal year. (e) Limitation; conflicts of interests (1) Political participation The Foundation may not participate or intervene in any political activities on behalf of any candidate for public office in any country. (2) Financial interests All Directors of the Board, Advisors, officers, and employees of the Foundation may not participate (directly or indirectly) in the consideration or determination of any question before the Foundation affecting— (A) the financial interests of such Director, officer, or employee; and (B) the interests of any corporation, partnership, entity, or organization in which such Director, officer, or employee has any fiduciary obligation or direct or indirect financial interest. 5. Corporate powers and obligations of the Foundation (a) General authorities (1) In general The Foundation— (A) may conduct business throughout the States, territories, and possessions of the United States and in foreign countries; (B) shall have its principal offices in the Washington, DC, metropolitan area; and (C) shall continuously maintain a designated agent in Washington, DC, who is authorized to accept notice or service of process on behalf of the Foundation. (2) Notice and service of process The serving of notice to, or service of process upon, the agent referred to in paragraph (1)(C), or mailed to the business address of such agent, shall be deemed as service upon, or notice to, the Foundation. (3) Seal The Foundation shall have an official seal, which shall be selected by the Board and judicially noticed. (b) Authorities In addition to powers explicitly authorized under this Act, the Foundation, in order to carry out the purposes described in section 3(b), shall have the usual powers of a corporation headquartered in Washington, DC, including the authority— (1) to accept, receive, solicit, hold, administer, and use any gift, devise, or bequest, either absolutely or in trust, or real or personal property or any income derived from such gift or property, or other interest in such gift or property; (2) to acquire by donation, gift, devise, purchase, or exchange any real or personal property or interest in such property; (3) unless otherwise required by the instrument of transfer, to sell, donate, lease, invest, reinvest, retain, or otherwise dispose of any property or income derived from such property; (4) to borrow money and issue bonds, debentures, or other debt instruments; (5) to complain and defend itself in any court of competent jurisdiction (except that the Directors of the Board shall not be personally liable, except for gross negligence); (6) to enter into legal arrangements with public agencies, private organizations, and persons and to make such payments as may be necessary to carry out the purposes of such contracts or arrangements; and (7) to award funding, which may include project financing, grants, and concessional lending, for eligible projects, in accordance with section 7. (c) Federal funds (1) In general The Foundation may— (A) hold Federal funds made available, but not immediately disbursed; and (B) use any interest or other investment income earned on such Federal funds to carry out the purposes of the Foundation under this Act. (2) Limitation Investments made with Federal funds pursuant to paragraph (1)(B) may only be made in— (A) interest-bearing obligations of the United States; or (B) obligations guaranteed as to both principal and interest by the United States. (d) Limitation of public liability The United States shall not be liable for any debts, defaults, acts, or omissions of the Foundation. 6. Safeguards and accountability (a) Safeguards The Foundation shall develop, and incorporate into any agreement for support provided by the Foundation, appropriate safeguards, policies, and guidelines, consistent with internationally recognized best practices and standards for environmental and social safeguards. (b) Independent accountability mechanism (1) In general The Foundation shall establish a transparent and independent accountability mechanism, which shall provide— (A) a compliance review function that assesses whether Foundation-supported projects adhere to the requirements developed pursuant to subsection (a); (B) a dispute resolution function for resolving concerns between project implementers regarding the impacts of specific Foundation-supported projects with respect to such standards; and (C) an advisory function that reports to the Foundation on projects, policies, and practices. (2) Duties The accountability mechanism established pursuant to paragraph (1) shall— (A) report annually to the Board and to the appropriate congressional committees regarding the Foundation’s compliance with internationally recognized best practices and standards in accordance with paragraph (1)(A); (B) (i) have permanent staff to conduct compliance reviews and dispute resolutions; or (ii) maintain a roster of experts to serve such roles, to the extent needed; and (C) hold a public comment period lasting not fewer than 60 days regarding the initial design of the accountability mechanism. 7. Projects, financing, and grants (a) Project funding requirements (1) In general The Foundation shall award funding, which may include project financing, credit risk insurance, grants, concessional lending, and credit, in accordance with this section for eligible projects described in paragraph (1) that will— (A) increase productivity and incomes; and (B) improve the livelihoods and nutrition of producers and communities. (2) Eligible projects A project is an eligible project if it seeks— (A) to have cost matching from sources other than the United States Government and regional multilateral organizations; (B) to be implemented in coordination with key stakeholders; (C) to incorporate a set of key independently verified performance metrics at the portfolio level, including rigorous measurements, such as measuring attributable increases in agricultural yields, infrastructure, or any other eligible use; (D) to not duplicate the work of other institutions or displace current profit-making ventures; (E) to leverage existing infrastructure and staff in eligible countries to allow for the immediate launch of projects; (F) to demonstrate— (i) the ability to sustainably maintain and build on the outcomes of the project after the Foundation funding has ended; or (ii) a plan to strengthen the capacity of, and transfer skills and technologic tools to, local enterprises, organizations, or institutions to manage projects and other funded entities after the Foundation funding has been expended; (G) to consider projects that meet the highest needs of food insecure populations based on food security and malnutrition assessments; and (H) to not duplicate the efforts included in the comprehensive global food security strategy implemented pursuant to section 5 of the Global Food Security Act of 2016 ( 22 U.S.C. 9304 ). (b) Eligible countries (1) In general Before entering into any project agreement pursuant to this section, the Board shall— (A) establish criteria to determine country eligibility for the award period; and (B) identify not more than 10 countries to receive support during such award period that— (i) are committed to make necessary policy reforms, in accordance with subsection (a)(2), to help transform food systems; (ii) have demonstrated leadership to modernize their agricultural food systems; (iii) are committed to cofinance and sustain long-term projects implemented by the Foundation; (iv) are committed to collaborate with key stakeholders to increase agricultural production, strengthen resilient food systems, improve food safety or processing, increase access to safe, affordable, and nutritious foods, and improve related logistics and supply chain processes; and (v) are representatives of geographically diverse regions. (2) Identification of eligible countries Not later than 5 days after the date on which the Board identifies the eligible countries for a given fiscal year, the Executive Director shall— (A) submit a report to the appropriate congressional committees that includes— (i) a list of such eligible countries; and (ii) justification for such eligibility determinations; and (B) publish the information contained in the report described in subparagraph (A) in the Federal Register. (c) Funding authorized (1) In general In order to maximize the impact of the funding authorized under this section, the Foundation should— (A) coordinate with other international public and private donors to the extent possible; and (B) seek additional financial and nonfinancial contributions and commitments for its projects from host governments. (2) Funding criteria Funding awarded pursuant to this section— (A) shall be provided to countries that demonstrate progress, during the funding period, in achieving clearly identified key performance indicators defined in the project agreement, which may include— (i) increasing agricultural or food production through the competitive delivery of market-based financing, distribution and extension services, and supporting technology commercialization and adoption through such services; (ii) improving the nutritional status of the citizens of partner countries by— (I) increasing the production, availability, and access of nutritious foods domestically; (II) promoting highly nutritious foods, diet diversification, and nutritional behaviors that improve maternal and child health; and (III) supporting the expansion of producer market opportunities; (iii) building resilient food systems to help mitigate against future food shocks among vulnerable populations and households; and (iv) identifying additional revenue sources or sustainable financing mechanisms to meet the recurring costs of projects by serving as a conduit between institutional investors and the agribusiness sector; and (B) may be terminated if the Board determines that the country receiving such funding— (i) is not meeting applicable requirements under this Act; or (ii) is not making progress in achieving the key performance indicators described in the project agreement. 8. Prohibition of support in countries that support terrorism or violate human rights and of support for sanctioned persons (a) In general The Foundation may not provide support for any government, or any entity owned or controlled by a government, if the Secretary of State determines that such government— (1) has repeatedly provided support for acts of international terrorism, as determined under— (A) section 1754(c)(1)(A)(i) of the Export Control Reform Act of 2018 ( 50 U.S.C. 4813(c)(1)(A)(i) ); (B) section 620A(a) of the Foreign Assistance Act of 1961 ( 22 U.S.C. 2371(a) ); (C) section 40(d) of the Arms Export Control Act ( 22 U.S.C. 2780(d) ); or (D) any other relevant provision of law; (2) has repeatedly engaged with any organizations designated as foreign terrorist organizations by the Secretary in accordance with section 219 of the Immigration and Nationality Act ( 8 U.S.C. 1189 ); or (3) has engaged in a consistent pattern of gross violations of human rights, as determined under section 116(a) or 502B(a)(2) of the Foreign Assistance Act of 1961 ( 22 U.S.C. 2151n(a) and 2304(a)(2)) or any other relevant provision of law. (b) Prohibition of support for sanctioned persons The Foundation may not engage in any dealing prohibited under United States sanctions laws or regulations, including dealings with persons on the list of specially designated persons and blocked persons maintained by the Office of Foreign Assets Control of the Department of the Treasury, except to the extent otherwise authorized by the Secretary of State or the Secretary of the Treasury. (c) Waiver The President may waive the application of subsections (a) and (b) with respect to any government, or any entity owned or controlled by a government, by notifying the appropriate congressional committees of the intention to exercise such waiver not later than 45 days before the waiver is scheduled to take effect. 9. Annual report Not later than 1 year after the date of the enactment of this Act, and annually thereafter while the Foundation is operational, the Executive Director of the Foundation shall submit a report containing the expectations of the year ahead to the appropriate congressional committees and make such report available to key stakeholders. Each such report shall describe— (1) the goals of the Foundation for the upcoming year; (2) lessons learned and best practices developed through projects funded by the Foundation during the prior fiscal year; (3) the extent to which such projects have contributed to achieving the purposes of the Foundation; (4) lessons learned and best practices developed from investments provided by the Foundation during the prior fiscal year; (5) the extent to which such investments have contributed to achieving the purposes of the Foundation; (6) the programs, projects, and activities supported by the Foundation; (7) the value of private sector assets invested in such programs, projects, and activities relative to the amount of support provided by the Foundation and the value of any other public sector support; (8) the standardized criteria utilized to determine the programs and activities supported by the Foundation, including baselines, targets, desired outcomes, measurable goals, and extent to which those goals are being achieved for each project; (9) the degree to which programs, projects, and activities of the Foundation are coordinated and aligned with— (A) existing United States bilateral assistance programs and foundations; (B) relevant activities of other key stakeholders; and (C) relevant multilateral efforts; and (10) how the funding and selected projects authorized under this Act were publicized in the selected country to expand recognition for the United States. 10. Authorization of appropriations (a) In general There are authorized to be appropriated to the Foundation $100,000,000 for each of the fiscal years 2024 through 2033 to carry out this Act. Such funding shall be used as an additive investment vehicle that— (1) independently leverages private investments; and (2) does not duplicate existing United States Government investments. (b) Cost matching requirement Amounts appropriated pursuant to subsection (a) may only be made available to the Foundation to the extent the Foundation secures funding from sources other than the United States Government. (c) Consultation requirement Not later than 180 days after the date of the enactment of this Act, and before obligating any funds made available under this Act, the Executive Director, in coordination with the Secretary, shall consult with the Committee on Appropriations of the Senate , the Committee on Foreign Relations of the Senate , the Committee on Appropriations of the House of Representatives , and the Committee on Foreign Affairs of the House of Representatives regarding the proposed uses of such funds.