USA HISTORY

Detailed explanation-1: -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-2: -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. It was enacted in 1948 and provided more than $15 billion to help finance rebuilding efforts on the continent.

Detailed explanation-3: -Thus the Marshall Plan was applied solely to Western Europe, precluding any measure of Soviet Bloc cooperation. Increasingly, the economic revival of Western Europe, especially West Germany, was viewed suspiciously in Moscow.

Detailed explanation-4: -The purpose of the Marshall Plan was to aid in the economic recovery of nations after World War II and secure US geopolitical influence over Western Europe.

Detailed explanation-5: -Cooperation for Recovery: The Marshall Plan In his historic speech at Harvard’s graduation ceremony in June 1947, George Marshall announced the U.S. plan to give additional economic aid to Europe. The offer was made to all of Europe, including the U.S. wartime enemies and the Communist countries of Eastern Europe.