WORLD 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 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.

Detailed explanation-4: -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-5: -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.