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 was proposed in a speech by Secretary of State George Marshall at Harvard University on June 5, 1947, in response to the critical political, social, and economic conditions in which Europe found itself at that time.

Detailed explanation-3: -Officially known as the European Recovery Program (ERP), the Marshall Plan was intended to rebuild the economies and spirits of western Europe, primarily. Marshall was convinced the key to restoration of political stability lay in the revitalization of national economies.

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: -Marshall spoke of an urgent need to help the European recovery in his address at Harvard University in June 1947. 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.