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Construction in West Berlin with the help of the Marshall Plan after 1948. The plaque reads: "Emergency Program Berlin – with the help of the Marshall Plan" US aid to Greece under the Marshall Plan. A high priority was increasing industrial productivity in Europe, which proved one of the more successful aspects of the Marshall Plan. [92]
Marshall Plan expenditures by country. The Marshall Plan was launched by the United States in 1947–48 to replace numerous ad hoc loan and grant programs, with a unified, long-range plan to help restore the European economy, modernize it, remove internal tariffs and barriers, and encourage European collaboration. It was funded by the ...
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]
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 event alarmed Western countries and helped spur quick adoption of the Marshall Plan, the creation of a state in West Germany, paramilitary measures to keep communists out of power in France, Greece and especially Italy, and steps toward mutual security that would, in little over a year, result in the establishment of NATO and the definitive ...
In 1948 the Republican-controlled Congress approved the Marshall Plan, a massive financial aid package designed to rebuild Western Europe. In 1949, the Truman administration designed and presided over the creation of NATO , a military alliance of Western countries designed to prevent the further westward expansion of Soviet power.
Only the denominations DM 1 ⁄ 2, 1, 2, 5, 10, 20, 50, and 100 were instituted on the initial date of June 20, 1948. The currency reform of 1948 went into effect on June 20, 1948, in the Trizone, the three western occupation zones of Germany. From June 21, 1948, the Deutsche Mark ("DM", also "D-Mark") was the sole legal tender there.
Paul Gray Hoffman (April 26, 1891 – October 8, 1974) was an American automobile company executive, statesman, and global development aid administrator. He was the first administrator of the Economic Cooperation Administration, where he led the implementation of the Marshall Plan from 1948 to 1950.