Marshall Plan (European Recovery Program)

The Marshall Plan, officially known as the European Recovery Program, was a U.S. initiative launched in 1948 to help rebuild European economies after World War II. The U.S. provided over $12 billion in aid to support recovery, stimulate growth, and prevent the spread of communism. The plan aimed to restore industrial and agricultural production, improve living standards, and foster economic cooperation among European nations. It significantly contributed to Europe’s rapid recovery, laying the groundwork for long-term stability and prosperity, as well as strengthening U.S.-European ties.