Mutual Development and Cooperation Act

[AI summary unavailable — showing source text] Mutual Development and Cooperation Act - Transfers the office and functions of the Agency for International Development to the Mutual Development and Cooperation Agency, which shall have the responsibility for coordinating all United States development-related activities. Authorizes $300,000,000 annually for fiscal years 1974-75 to be appropriated to the President to furnish assistance to people living in rural overseas areas for agriculture, rural development, and nutrition. Authorizes appropriations of $150,000,000 annually for fiscal years 1974-75 for population planning and health; $115,000,000 annually for education, public administration, and human resource development; $93,000,000 annually to help solve social and economic development problems in fields such as transportation and power; and $60,000,000 annually to support the general economy of recipient countries or for development programs conducted by private or international organizations. Directs the President to establish a system for coordination of United States policies and programs which affect U.S. interests in the development of low-income countries. Authorizes the establishment of a Development Coordination Comm…