WORLD HISTORY

Detailed explanation-1: -Marshall plan, initiated by the United States, provided $13.3 billion in aid to European countries. In addition, the World War II enemies, mainly Germany and Italy, were also given financial help to aid them in recovering from the war’s destruction.

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. The brainchild of U.S. Secretary of State George C.

Detailed explanation-3: -Fanned by the fear of Communist expansion and the rapid deterioration of European economies in the winter of 1946–1947, Congress passed the Economic Cooperation Act in March 1948 and approved funding that would eventually rise to over $12 billion for the rebuilding of Western Europe.

Detailed explanation-4: -As Secretary of State from 1947 to 1949, Marshall advocated rebuilding Europe, a program that became known as the Marshall Plan, and which led to his being awarded the 1953 Nobel Peace Prize.

Detailed explanation-5: -On 5 June 1947, the US Secretary of State, George C. Marshall, gives an address at Harvard University, Massachusetts, in which he offers the countries of Europe economic and financial assistance in exchange for closer European cooperation.