Marshall Plan

American initiative for foreign aid to Western Europe following World War II

The Marshall Plan was an American initiative enacted in 1948 to provide foreign aid to Western Europe. The United States transferred over $13 billion in economic recovery programs to Western European economies after the end of World War II. Replacing an earlier proposal for a Morgenthau Plan, it operated for four years beginning on April 3, 1948. The goals of the United States were to rebuild war-torn regions, remove trade barriers, modernize industry, improve European prosperity, and prevent the spread of communism. The Marshall Plan required a reduction of interstate barriers and the dissolution of many regulations while also encouraging an increase in productivity as well as the adoption of modern business procedures.

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