; and (C) interest and excellence in international public service careers. (2) Application Each organization that seeks a grant under this subsection shall submit an application to the Institute at such time, in such manner, and accompanied by such information as the Institute may reasonably require. (3) Set-aside for centers of excellence The Institute shall ensure that not less than 50 percent of amounts made available to carry out this subsection are used to provide grants to minority-serving institutions and entities that have made significant efforts to work with under-represented populations in the United States or abroad. (4) Consortium One or more research institutions may constitute themselves as a consortium for purposes of seeking a grant under this subsection. 6. Leadership institute for Transatlantic Engagement Trust Fund (a) Establishment There is established in the Treasury of the United States a trust fund to be known as the Leadership Institute for Transatlantic Engagement Trust Fund . The Fund shall consist of amounts which may be appropriated, credited, or transferred to it under this section. (b) Donations Any money or other property donated, bequeathed, or devised to the Institute under the authority of this section shall be credited to the Fund. (c) Fund management and investment (1) Investment At the request of the Institute, it shall be the duty of the Secretary of the Treasury to invest in full the amounts appropriated to the Fund. Such investments may be made only in interest-bearing obligations of the United States issued directly to the Fund. (2) Issuance of obligations The purposes for which obligations of the United States may be issued under chapter 31 of title 31, United States Code, are hereby extended to authorize the issuance at par of special obligations directly to the Fund. Such special obligations shall bear interest at a rate equal to the average rate of interest, computed as to the end of the calendar month next preceding the date of such issue, borne by all marketable