; (3) to close critical gaps in public international conservation efforts by— (A) increasing private sector investment, including investments from philanthropic entities; and (B) collaborating with partners providing bilateral and multilateral financing to support enhanced coordination; (4) to identify and financially support implementation-ready projects— (A) that promote long-term management of protected and conserved areas and their contiguous buffer zones in eligible countries, including supporting the management of terrestrial, coastal, freshwater, and marine protected areas, parks, community conservancies, indigenous reserves, conservation easements, and biological reserves; and (B) that provide effective area-based conservation measures, consistent with internationally recognized best practices and standards for environmental and social safeguards; and (5) to coordinate with, and otherwise support and assist, foreign governments, private sector entities, local communities, Indigenous Peoples, and other stakeholders in undertaking biodiversity conservation activities— (A) to achieve sustainable biodiversity conservation outcomes; and (B) to improve local security, governance, food security, and economic opportunities. 4. Governance of the Foundation (a) Board of Directors (1) Governance The Foundation shall be governed by a Board of Directors. (2) Composition (A) In general The Board shall be composed of— (i) the Directors described in subparagraph (B)