Urgent Supplemental Assistance for Southern Africa Act of 1987

Urgent Supplemental Assistance for Southern Africa Act of 1987 - Establishes the Southern Africa Special Humanitarian Assistance Fund which shall be used for humanitarian assistance programs in Angola, Botswana, Lesotho, Madagascar, Malawi, Mozambique, Swaziland, Tanzania, Zambia, and Zimbabwe. Authorizes appropriations for the Fund for FY 1987. Requires the money in the Fund to be used only for: (1) certain projects supported by the Southern Africa Development Coordination Conference; (2) the African Development Foundation; (3) refugee assistance and certain international organizations; (4) international disaster assistance; and (5) projects sponsored by certain nongovernmental organizations. Provides for transfers of money among the accounts within the Fund.

Requires the President, in providing famine relief under the Agricultural Trade Development and Assistance Act of 1954 (Public Law 480), to enter into an agreement that would facilitate the provision of urgently needed food commodities to people in the named countries. Provides that such an agreement shall be a triangular agreement under which one country receives agricultural commodities under Public Law 480 in exchange for the supply by that country of other agricultural commodities to a named country or countries.

Authorizes the President to use up to 25 per cent of the funds available to carry out the famine relief provisions of Public Law 480 for prepositioning food in recipient countries. Provides that such famine relief funds may be used for the inland transportation of agricultural commodities wherever necessary.