USA HISTORY

Detailed explanation-1: -The Marshall Plan was a U.S.-sponsored program designed to rehabilitate the economies of 17 western and southern European countries in order to create stable conditions in which democratic institutions could survive in the aftermath of World War II. It was formally called the European Recovery Program.

Detailed explanation-2: -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.

Detailed explanation-3: -The Marshall Plan had one other great effect on West Europe’s evolution over the past four decades: It encouraged the economic integration that led, first, to the creation of the European Coal and Steel Community among six nations–Belgium, France, Germany, Italy, Luxembourg and the Netherlands–in 1950.

Detailed explanation-4: -President Harry Truman signed the Marshall Plan on April 3, 1948, and aid was distributed to 16 European nations, including Britain, France, Belgium, the Netherlands, West Germany and Norway.

Detailed explanation-5: -The European Recovery Program (ERP), more commonly known as the Marshall Plan (the Plan), was a program of U.S. assistance to Europe during the period 1948-1951.