WORLD HISTORY

Detailed explanation-1: -Under the Marshall Plan, the Organisation for European Economic Cooperation (OEEC) was established in 1948 to channel aid to the west European states.

Detailed explanation-2: -The Marshall Plan is also considered a key catalyst for the formation of the North Atlantic Treaty Organization (NATO), a military alliance between North American and European countries established in 1949.

Detailed explanation-3: -This left the following countries to participate in the plan: Austria, Belgium, Denmark, France, Greece, Iceland, Ireland, Italy, Luxembourg, the Netherlands, Norway, Portugal, Sweden, Switzerland, Turkey, the United Kingdom, and western Germany.

Detailed explanation-4: -It emerged from the Marshall Plan and the Conference of Sixteen (Conference for European Economic Co-operation), which sought to establish a permanent organisation to continue work on a joint recovery programme and in particular to supervise the distribution of aid.

Detailed explanation-5: -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.