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: -Historians have generally agreed that the Marshall Plan contributed to reviving the Western European economies by controlling inflation, reviving trade and restoring production. It also helped rebuild infrastructure through the local currency counterpart funds.

Detailed explanation-3: -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. To combat the effects of the Marshall Plan, the USSR developed its own economic recovery program, known as the Molotov Plan.

Detailed explanation-4: -During the next four years, the United States provided over $13 billion in aid to 16 Western European nations, including West Germany. (That is more than $100 billion in today’s dollars.) increase industrial and agricultural production by rapidly rebuilding factories, railroad, bridges, etc.

Detailed explanation-5: -What was the main purpose of the Marshall plan? To help Europe regain a good economy after WWII and to help prevent the spread of Soviet comminism.