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: -The Marshall Plan gave more than $13 billion in aid to European nations-including its World War II enemies, Germany and Italy-and was crucial in revitalizing their post-war economies. By the time U.S. funding ended, in 1951, the economies of all the European recipients had surpassed prewar levels.

Detailed explanation-4: -The largest recipient of Marshall Plan money was the United Kingdom (receiving about 26% of the total). The next highest contributions went to France (18%) and West Germany (11%). Some eighteen European countries received Plan benefits.