HISTORY
WORLD WAR II
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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European Recovery Program
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Intended to reconstruct Cities, Industries, and Infrastructure
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Helped Countries rebuild after the War
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Gave 13 billion in food, money and equipment
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Detailed explanation-1: -In the end, a total of $13.6 billion (equivalent to $88 billion in 1997 money) was appropriated to the plan. The Marshall Plan was a success. By 1950, the participating countries had returned to, or exceeded, their prewar production levels.
Detailed explanation-2: -It was intended to aid European countries that had been destroyed as a result of the war, and it was laid out by U.S. Secretary of State George Marshall during an address at Harvard University in 1947. The plan was authorized by Congress as the European Recovery Program (ERP).
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: -Its purpose should be the revival of a working economy in the world so as to permit the emergence of political and social conditions in which free institutions can exist. Marshall was convinced that economic stability would provide political stability in Europe.