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The Marshall Plan (officially the European Recovery Program, ERP) was an American initiative enacted in 1948 to provide foreign aid to Western Europe. The United States transferred $13.3 billion (equivalent to $173.8 billion in 2024) in economic recovery programs to Western European economies after the end of World War II in Europe .
The Economic Cooperation Administration (ECA) was a U.S. government agency set up in 1948 to administer the Marshall Plan. It reported to both the State Department and the Department of Commerce. The agency's first head was Paul G. Hoffman, a former leader of car manufacturer Studebaker; he was succeeded by William Chapman Foster in 1950. [1]
The committee disbanded not long after April 3, 1948, when U.S. President Harry S. Truman signed the Marshall Plan into law, which granted $5 billion in aid to 16 European nations. Opposition to the Marshall Plan
See Marshall Plan On March 13, 1948, the Marshall Plan passed both the United States Senate (71:19) and House (333:78). On April 1, 1948, the plan went to joint conference committee; on April 2, 1948, it passed both the House and Senate. On April 3, 1948, US President Harry S. Truman signed the bill into law. In 1951 the Marshall Plan was ...
George C. Marshall. On 5 June 1947, George C. Marshall, at the time Secretary of State of the United States of America, gave an address at Harvard University in Cambridge, Massachusetts, where he proposed a plan to aid European recovery after the events of World War II, in the form of financial and economic assistance from the United States.
The currency reform of 1948 is one of the most significant economic policy measures in post-war German history. It enabled the Western occupation zones to receive Marshall Plan aid and was thereby one of the prerequisites of the Economic Miracle of the 1950s. [1]
City leaders crafted the Metropolitan Master Plan of 1948, with designs to transform the riverfront into a vibrant showpiece of a modern city, with a baseball stadium, greenspace and a bypass ...
Between April 1947 and December 1948, when George C. Marshall was Secretary of State, Kennan was more influential than he was at any other period in his career. Marshall valued his strategic sense and had him create and direct what is now named the Policy Planning Staff, the State Department's internal think tank. [43]