Global Malnutrition Prevention and Treatment Act of 2021 This bill sets out programs and otherwise directs the U.S. Agency for International Development (USAID) to carry out activities to prevent and treat malnutrition globally. In coordination with relevant federal agencies, bilateral and multilateral donors, partner countries, and other stakeholders, the USAID may scale up programs for preventing and treating malnutrition globally. This includes focusing on interventions for the populations most susceptible to severe malnutrition (e.g., pregnant and lactating women and children younger than five years of age). The USAID must select countries based on specified malnutrition-related indicators for purposes of targeting malnutrition prevention and treatment programs and update the selection within five years. To support these programs, the USAID must leverage additional private sector resources in priority countries, including by considering opportunities within the Development Finance Corporation's impact framework for supporting improved nutrition outcomes. The USAID must provide Congress with an implementation plan and annual reports concerning its programs for preventing and treating malnutrition. The bill also establishes the Nutrition Leadership Council, comprised of various USAID bureaus and offices, to coordinate agency activities to prevent and treat malnutrition. The bill's provisions terminate seven years after its enactment.