((a)) ** Project funding requirements**
((1)) ** In general** The Foundation shall—
((A)) provide grants to support eligible projects described in paragraph (3) that advance its mission to enable effective management of primarily protected and conserved areas and their contiguous buffer zones in eligible countries;
((B)) advance effective landscape or seascape approaches to conservation that include buffer zones, wildlife dispersal and corridor areas, and other effective area-based conservation measures; and
((C)) not purchase, own, or lease land, including conservation easements, in eligible countries.
((2)) ** Eligible entities** Eligible entities shall include—
((A)) not-for-profit organizations with demonstrated expertise in protected and conserved area management and economic development;
((B)) governments of eligible partner countries, as determined by subsection (b), with the exception of governments and government entities that are prohibited from receiving grants from the Foundation pursuant to ; and
((C)) Indigenous and local communities in such eligible countries.
((3)) ** Eligible projects** Eligible projects shall include projects that—
((A)) focus on supporting—
((i)) transparent and effective long-term management of primarily protected or conserved areas and their contiguous buffer zones in countries described in subsection (b), including terrestrial, coastal, and marine protected or conserved areas, parks, community conservancies, Indigenous reserves, conservation easements, and biological reserves; and
((ii)) other effective area-based conservation measures;
((B)) are cost-matched at a ratio of not less than $2 from sources other than the United States for every $1 made available under this chapter;
((C)) are subject to long-term binding memoranda of understanding with the governments of eligible countries and local communities—
((i)) to ensure that local populations have access, resource management responsibilities, and the ability to pursue permissible, sustainable economic activity on affected lands; and
((ii)) that may be signed by governments in such eligible countries to ensure free, prior, and informed consent of affected communities;
((D)) incorporate a set of key performance and impact indicators;
((E)) demonstrate robust local community engagement, with the completion of appropriate environmental and social due diligence, including—
((i)) free, prior, and informed consent of Indigenous Peoples and relevant local communities;
((ii)) inclusive governance structures; and
((iii)) effective grievance mechanisms;
((F)) create economic opportunities for local communities, including through—
((i)) equity and profit-sharing;
((ii)) cooperative management of natural resources;
((iii)) employment activities; and
((iv)) other related economic growth activities;
((G)) leverage stable baseline funding for the effective management of the primarily protected or conserved area project; and
((H)) to the extent possible—
((i)) are viable and prepared for implementation; and
((ii)) demonstrate a plan to strengthen the capacity of, and transfer skills to, local institutions to manage the primarily protected or conserved area before or after grant funding is exhausted.
((b)) ** Eligible countries**
((1)) ** In general** Pursuant to the Plan of Action required under , and before awarding any grants or entering into any project agreements for any fiscal year, the Board shall conduct a review to identify eligible countries in which the Foundation may fund projects. Such review shall consider countries that—
((A)) are low-income, lower middle-income, or upper-middle-income economies (as defined by the International Bank for Reconstruction and Development and the International Development Association);
((B)) have—
((i)) a high degree of threatened or at-risk biological diversity; or
((ii)) species or ecosystems of significant importance, including threatened or endangered species or ecosystems at risk of degradation or destruction;
((C)) have demonstrated a commitment to conservation through verifiable actions, such as protecting lands and waters through the gazettement of national parks, community conservancies, marine reserves and protected areas, forest reserves, or other legally recognized forms of place-based conservation; and
((D)) are not ineligible to receive United States foreign assistance pursuant to any other provision of law, including laws identified in .
((2)) ** Identification of eligible countries** Not later than 5 days after the date on which the Board determines which countries are eligible to receive assistance under this chapter for a fiscal year, the Executive Director shall—
((A)) submit a report to the appropriate congressional committees that includes—
((i)) a list of all such eligible countries, as determined through the review process described in paragraph (1); and
((ii)) a detailed justification for each such eligibility determination, including—
((I)) an analysis of why the eligible country would be suitable for partnership;
((II)) an evaluation of the eligible partner country’s interest in and ability to participate meaningfully in proposed Foundation activities, including an evaluation of such eligible country’s prospects to substantially benefit from Foundation assistance;
((III)) an estimation of each such eligible partner country’s commitment to conservation; and
((IV)) an assessment of the capacity and willingness of the eligible country to enact or implement reforms that might be necessary to maximize the impact and effectiveness of Foundation support; and
((B)) publish the information contained in the report described in subparagraph (A) in the Federal Register.
((c)) ** Grantmaking**
((1)) ** In general** In order to maximize program effectiveness, the Foundation shall—
((A)) coordinate with other international public and private donors to the greatest extent practicable and appropriate;
((B)) seek additional financial and nonfinancial contributions and commitments for its projects from governments in eligible countries;
((C)) strive to generate a partnership mentality among all participants, including public and private funders, host governments, local protected areas authorities, and private and nongovernmental organization partners;
((D)) prioritize investments in communities with low levels of economic development to the greatest extent practicable and appropriate; and
((E)) consider the eligible partner country’s planned and dedicated resources to the proposed project and the eligible entity’s ability to successfully implement the project.
((2)) ** Grant criteria** Foundation grants—
((A)) shall fund eligible projects that enhance the management of well-defined primarily protected or conserved areas and the systems of such conservation areas in eligible countries;
((B)) should support adequate baseline funding for eligible projects in eligible countries to be sustained for not less than 10 years;
((C)) should, during the grant period, demonstrate progress in achieving clearly defined key performance indicators (as defined in the grant agreement), which may include—
((i)) the protection of biological diversity;
((ii)) the protection of native flora and habitats, such as trees, forests, wetlands, grasslands, mangroves, coral reefs, and sea grass;
((iii)) community-based economic growth indicators, such as improved land tenure, increases in beneficiaries participating in related economic growth activities, and sufficient income from conservation activities being directed to communities in project areas;
((iv)) improved management of the primarily protected or conserved area covered by the project, as documented through the submission of strategic plans or annual reports to the Foundation; and
((v)) the identification of additional revenue sources or sustainable financing mechanisms to meet the recurring costs of management of the primarily protected or conserved areas; and
((D)) shall be terminated if the Board determines that the project is not—
((i)) meeting applicable requirements under this chapter; or
((ii)) making progress in achieving the key performance indicators defined in the grant agreement.