The Marshall Plan was signed into law by U.S. President Harry Truman on this day, 1948.
What was the Marshall Plan?
The Marshall Plan, officially known as the European Recovery Program, was a plan proposed by U.S. Secretary of State George Marshall in 1947 to provide economic aid to Western European countries devastated by World War II.
How much aid did the Marshall Plan provide?
The Marshall Plan provided over $13 billion in economic aid to Western European countries between 1948 and 1951. Sixteen countries received aid under the Marshall Plan, including France, Germany, Italy, and the United Kingdom.
What was the impact of the Marshall Plan?
The Marshall Plan helped to rebuild the economies of Western European countries and was seen as a major factor in the post-War economic recovery of Europe. It also helped to prevent the spread of communism in Europe and contributed to the strengthening of the United States' relationships with its European allies.