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$14 million
- Because of its location a continent away, the United States was the only country that did not suffer major devastation during the war and thus it was to the U.S. that Europe looked for help. From the end of the war in 1945 until the beginning of the Marshall Plan, the U.S. provided $14 million in loans.
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However, before the Marshall Plan was in effect, France, Austria, and Italy needed immediate aid. On December 17, 1947, the United States agreed to give $40 million to France, Austria, China, and Italy.
Aug 24, 2024 · Marshall Plan, formally European Recovery Program (1948–51), U.S.-sponsored program advocated by Secretary of State George C. Marshall to rehabilitate the economies of 17 western and southern European countries in order to create stable conditions in which democratic institutions could survive.
- The Editors of Encyclopaedia Britannica
- The Marshall Plan was a U.S.-sponsored program designed to rehabilitate the economies of 17 western and southern European countries in order to cre...
- U.S. President Harry S. Truman signed the Marshall Plan into law on April 3, 1948, after it was authorized by the U.S. Congress.
- Aid was initially offered to almost all European countries, but later some withdrew under the influence of the Soviet Union. The countries that rem...
- In 1947 U.S. Secretary of State George C. Marshall, for whom the Marshall Plan is named, advanced the idea of a European self-help program to be fi...
- Europe After World War II
- Truman Approves The Marshall Plan
- Cold War
- Impact of The Marshall Plan
- Political Legacy of The Marshall Plan
- Sources
Post-war Europe was in dire straits: Millions of its citizens had been killed or seriously wounded in World War II, and in related atrocities such as the Holocaust. Many cities—including the industrial and cultural centers of London, Dresden, Berlin, Cologne, Liverpool, Birmingham and Hamburg—had been partly or wholly destroyed. Reports provided to...
President Harry Trumansigned the Marshall Plan on April 3, 1948, and aid was distributed to 16 European nations, including Britain, France, Belgium, the Netherlands, West Germany and Norway. To highlight the significance of America’s largesse, the billions committed in aid effectively amounted to a generous 5 percent of U.S. gross domestic product ...
In addition to economic redevelopment, one of the stated goals of the Marshall Plan was to halt the spread of communism on the European continent. Implementation of the Marshall Plan has been cited as the beginning of the Cold Warbetween the United States, its European allies and the Soviet Union, which had effectively taken control of much of cent...
Interestingly, in the decades since its implementation, the true economic benefit of the Marshall Plan has been the subject of much debate. Indeed, reports at the time suggest that, by the time the plan took effect, Western Europe was already well on the road to recovery. And, despite the significant investment on the part of the United States, the...
Politically, however, the legacy of the Marshall Plan arguably tells a different story. Given the refusal to participate on the part of the so-called Eastern Bloc of Soviet states, the initiative certainly reinforced divisions that were already beginning to take root on the continent. It’s worth noting, too, that the Central Intelligence Agency (CI...
Department of State. Office of the Historian. Marshall Plan, 1948. History.state.gov. The Marshall Plan. The George C. Marshall Foundation. Truman and the Marshall Plan. Harry S. Truman Library and Museum.
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Aug 6, 2024 · Between 1948 and 1952, the U.S. distributed approximately 13.3 billion U.S. dollars between the non-communist states of Western Europe, including Greece and Turkey.
Some in Congress argued that rather than combating communism, the Marshall Plan was “a socialist blueprint” itself, threatening to waste money on other nations rather than build up the United States’ own defenses. The cost of supporting Europe would also come at the price of inflation and higher taxes.
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The European delegates drafted a reconstruction plan that required $22 billion of credit. Truman whittled this down to $17 billion and sent draft legislation to Congress in early 1948. Isolationists in Congress attempted to block funding for the Marshall Plan.
Oct 30, 1997 · The Marshall Plan and other forms of foreign assistance between them cost the United States $17.6 billion (or $120 billion in current value for the Marshall Plan alone)--as we said, the largest voluntary transfer of resources in history.
