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The Marshall Plan was implemented in West Germany (1948–1950), as a way to modernize business procedures and utilize the best practices. As a major prerequisite for delivery of aid, the Currency Reform of 1948 was implemented on June 20.
The Economic Cooperation Administration (ECA) was a U.S. government agency set up in 1948 to administer the Marshall Plan. It reported to both the State Department and the Department of Commerce. The agency's first head was Paul G. Hoffman, a former leader of car manufacturer Studebaker; he was succeeded by William Chapman Foster in 1950. [1]
The Berlin Airlift from 1948 to 1949 and the Marshall Plan (1948–1952) ... Map showing the division of East and West Germany until 1990, with West Berlin in yellow ...
Paul Gray Hoffman (April 26, 1891 – October 8, 1974) was an American automobile company executive, statesman, and global development aid administrator. He was the first administrator of the Economic Cooperation Administration, where he led the implementation of the Marshall Plan from 1948 to 1950.
[93] [94] The Marshall Plan would help Europe rebuild and modernize its economy along American lines and open up new opportunities for international trade. Stalin ordered his satellites in Eastern Europe not to participate. Marshall was again named "Man of the Year" by Time in January 1948. [95] Secretary of State Marshall speaks to the House ...
The Marshall Plan helped European economies recover in the late 1940s and early 1950s. By 1952, industrial productivity had increased by 35 percent compared to 1938 levels. The Marshall Plan also provided critical psychological reassurance to many Europeans, restoring optimism to a war-torn continent.
The 1947 U.S. Friendship Train collected foodstuffs from American donors for transport to the people of France and Italy.Contemporaneous with the Marshall Plan, it provided desperately needed assistance in the aftermath of World War II, but was primarily a token gesture of goodwill, with stops across the U.S. ending at New York City, where it was received with a ticker tape parade prior to ...
The aid received by Germany through GARIOA was, just as the later Marshall Plan aid (starting 1948), charged to the Germans. By 1953 West Germany's combined GARIOA and Marshall Plan debt was over $3.3 billion. It was however decided in 1953 that West Germany only had to repay $1.1 billion.