A bill to amend the agricultural Trade Development and Assistance Act of 1954.

Revises the Agricultural Trade Development and Assistance Act with respect to regulations on the extension of credit and emergency and disaster relief of friendly nations by the Commodity Credit Corporation.

Directs the President to publish, on an annual basis, a list of eligible countries which he determines are friendly to the United States and which lack the internal resources to purchase commodities on a normal commercial basis.

Authorizes the making of loans to United States or developing country private business firms (including cooperatives) engaged in activities to improve the economic welfare of the developing country or to increase utilization of U.S. agricultural commodities, but only to the extent that such loans are not inconsistent with the economic objectives of the developing country concerned. Requires the President to designate an appropriate Federal agency to administer this provision and to make annual reports to the Congress.

Authorizes the Secretary of Agriculture, in consultation with the Administrator of the Agency for International Development, to designate, on the basis of established criteria, those countries eligible for an agricultural assistance program.