S.Amdt. 3109

SA 3109. Mr. CARDIN submitted an amendment intended to be proposed by
him to the bill S. 4638, to authorize appropriations for fiscal year
2025 for military activities of the Department of Defense, for military
construction, and for defense activities of the Department of Energy,
to prescribe military personnel strengths for such fiscal year, and for
other purposes; which was ordered to lie on the table; as follows:

At the end of subtitle F of title XII, add the following:

SEC. 1291. GLOBAL STRATEGIC INFRASTRUCTURE INVESTMENT FUND.

(a) Strategic Infrastructure Investment Fund.--
(1) Establishment.--There is established in the Treasury of
the United States a fund to be known as the ``Global
Strategic Infrastructure Fund'' (in this section referred to
as the ``Fund'') for the Secretary of State to provide for
assistance, including through contributions for strategic
infrastructure projects globally as authorized under this
section.
(2) Appropriations.--In addition to amounts otherwise
available for such purposes, there is appropriated to the
Fund established in subsection (a)(1), out of amounts in the
Treasury not otherwise appropriated--
(A) for fiscal year 2025, $400,000,000, to remain available
until expended;
(B) for fiscal year 2026, $400,000,000, to remain available
until expended;
(C) for fiscal year 2027, $400,000,000, to remain available
until expended;
(D) for fiscal year 2028, $400,000,000, to remain available
until expended; and
(E) for fiscal year 2029, $400,000,000, to remain available
until expended.
(3) Transfer authority.--Amounts in the Fund shall be
transferred and merged with accounts within the Department of
State, the United States Agency for International
Development, the Export-Import Bank of the United States, the
United States International Development Finance Corporation,
the Millennium Challenge Corporation, and the United States
Trade and Development Agency, as appropriate, to be used for
such purposes.
(4) Consultation.--The Secretary of State shall consult
with the Administrator of the United States Agency for
International Development on the allocations of the Fund.
(5) Loans and loan guarantees.--Amounts transferred from
the Fund to the Export-Import Bank and the United States
International Development Finance Corporation, among other
purposes, may be made available for the costs of direct loans
and loan guarantees, including the cost of modifying such
loans and loan guarantees, as defined in section 502 of the
Congressional Budget Act of 1974 (2 U.S.C. 661a).
(b) Prioritization.--In evaluating proposals for strategic
infrastructure projects funded pursuant to subsection (a),
the Secretary of State shall prioritize--
(1) projects that have the highest strategic value to the
United States; and
(2) projects related to--
(A) strategic transport infrastructure, including ports,
airports, railroads, and highways;
(B) energy infrastructure, technology, and supply chains,
critical minerals, and related areas that align with the
officially conveyed energy needs of partner countries and
with the objective of maximizing such countries' energy
access, energy security, energy transition, and resilience
needs.
(C) secure information and communications technology
networks and infrastructure to strengthen the potential for
economic growth and to promote an open, interoperable,
reliable, and secure internet; and
(D) global health security, including through
infrastructure projects that increase the availability,
accessibility, and affordability of health care in partner
countries.
(c) Standards.--In evaluating proposals for strategic
infrastructure projects funded pursuant to subsection (a),
the Secretary of State shall adhere to standards for
sustainable, transparent, and quality infrastructure
investment and ensure projects include opportunities to
advance economic growth priorities in the partner country and
support good governance and the rule of law.
(d) Projects in High Income Countries.--Support provided
under the Fund shall not be provided in countries with high-
income economies (as those terms are defined by the World
Bank) unless the President certifies to the appropriate
committees of Congress that such support--
(1) is necessary to preempt or counter efforts by a
strategic competitor of the United States to secure
significant political or economic leverage or acquire
national security-sensitive technologies or infrastructure in
a country that is an ally or partner of the United States;
and
(2) includes cost-sharing arrangements with partner
countries to ensure effective burden-sharing and long-term
sustainability.
(e) Definitions.--In this section:

[[Page S5431]]

(1) Appropriate committees of congress.--The term
``appropriate committees of Congress'' means--
(A) the Committee on Foreign Relations of the Senate; and
(B) the Committee on Foreign Affairs of the House of
Representatives.
(2) Strategic infrastructure.--The term ``strategic
infrastructure'' means infrastructure where a primary driver
of United States national interest in such infrastructure
is--
(A) to advance United States national security or economic
security interest or those of the country in which the
infrastructure is located; or
(B) to deny the People's Republic of China of ownership or
control over such infrastructure.
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