WORLD HISTORY

Detailed explanation-1: -Congress overwhelmingly passed the Economic Cooperation Act of 1948, and on April 3, 1948, President Truman signed the act that became known as the Marshall Plan. Over the next four years, Congress appropriated $13.3 billion for European recovery.

Detailed explanation-2: -The Marshall Plan (officially the European Recovery Program, ERP) was a series of relief programs initiated in 1948 aid in the recovery and reconstruction of Western Europe. It is named after George Marshall, who was the U.S. Secretary of State.

Detailed explanation-3: -The goal of the Global Marshall Plan Initiative is to globally link appropriate order processes with competitive mechanisms to create value added systems by combining potential, resources and infrastructure with well planned, institutional solutions.

Detailed explanation-4: -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-5: -The Marshall Plan (officially the European Recovery Program, ERP) was an American initiative enacted in 1948 to provide foreign aid to Western Europe.

Detailed explanation-6: -The Marshall Plan was a U.S.-sponsored program designed to rehabilitate the economies of 17 western and southern European countries in order to create stable conditions in which democratic institutions could survive in the aftermath of World War II. It was formally called the European Recovery Program.