What was the Marshall Plan and what was its purpose?
The Marshall Plan (the Plan) and the European Recovery Program (ERP) that it generated involved an ambitious effort to stimulate economic growth in a despondent and nearly bankrupt post-World War II Europe, to prevent the spread of communism beyond the iron curtain, and to encourage development of a healthy and …
What was the Marshall Plan simplified?
The Marshall Plan, also known as the European Recovery Program, was a U.S. program providing aid to Western Europe following the devastation of World War II. It was enacted in 1948 and provided more than $15 billion to help finance rebuilding efforts on the continent.
What was the Marshall Plan in one sentence?
a United States program of economic aid for the reconstruction of Europe (1948-1952); named after George Marshall. 1. The Marshall Plan sought to regenerate the shattered Europe of 1947. … The Marshall Plan was the engine of postwar economic growth.
What was good about the Marshall Plan?
The Marshall Plan was very successful. The western European countries involved experienced a rise in their gross national products of 15 to 25 percent during this period. The plan contributed greatly to the rapid renewal of the western European chemical, engineering, and steel industries.