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Dec 16, 2009 · The Marshall Plan, also known as the European Recovery Program, was a U.S. program providing aid to Western Europe following the devastation of World War II.
Jun 17, 2024 · Marshall Plan, formally European Recovery Program (1948–51), U.S.-sponsored program advocated by Secretary of State George C. Marshall to rehabilitate the economies of 17 western and southern European countries in order to create stable conditions in which democratic institutions could survive.
The Marshall Plan (officially the European Recovery Program, ERP) was an American initiative enacted in 1948 to provide foreign aid to Western Europe. The United States transferred $13.3 billion (equivalent to $173 billion in 2023) in economic recovery programs to Western European economies after the end of World War II.
Jun 29, 2022 · On April 3, 1948, President Truman signed the Economic Recovery Act of 1948. It became known as the Marshall Plan, named for Secretary of State George Marshall, who in 1947 proposed that the United States provide economic assistance to restore the economic infrastructure of postwar Europe.
On May 8, 1947, Under Secretary of State Dean Acheson stood before a board of farmers and businessmen gathered in a small town in the middle of the Mississippi Delta, ready to unveil the blueprint for one of the most significant strategic actions of the early Cold War: The Marshall Plan.
Mar 9, 2017 · On June 5, 1947, in a commencement address at Harvard University, Secretary of State George C. Marshall first called for American assistance in restoring the economic infrastructure of Europe. Western Europe responded favorably, and the Truman administration proposed legislation.
The Marshall Plan stabilised the economies and political systems in several European nations bordering the Soviet sphere of influence. This reduced the likelihood of communist takeovers in these countries.
The Marshall Plan generated a resurgence of European industrialization and brought extensive investment into the region. It was also a stimulant to the U.S. economy by establishing markets for American goods.
To stabilize the European economy, US Secretary of State George C. Marshall proposed a plan to provide Europe with $13 billion in economic aid. The Marshall Plan proved enormously successful, helping to rehabilitate European nations that accepted the aid.
Marshall Plan, (1948–51)U.S.-sponsored program to provide economic aid to European countries after World War II. The idea of a European self-help plan financed by the U.S. was proposed by George Marshall in 1947 and was authorized by Congress as the European Recovery Program.
