What was the Marshall Plan?

By Investopedia Staff AAA
A:

The Marshall Plan was a U.S.-sponsored program implemented following the second world war to aid European countries that had been destroyed as a result of the war. Following World War II, the United States needed to formulate a plan to help rebuild war-tattered Europe, and help create a stronger economic environment for Europe as a whole.

The plan was first laid out by U.S. Secretary of State George Marshall during an address at Harvard University in 1947, and was subsequently authorized by Congress as the European Recovery Program (ERP). The Marshall Plan gave over $13 billion in aide to European nations and was key in revitalizing the post-war economies of these nations. The plan focused on modernizing both business and industrial practices across Europe, while reducing trade barriers between European nations and the United States. By 1952 U.S. funding ended, the economies of all the European recipients surpassed pre-war levels and the plan was considered a success.

For more, see War's Influence On Wall Street.

This question was answered by Lovey Grewal.

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