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President Harry Truman signed the Marshall Plan on April 3, 1948, granting $5 billion in aid to 16 European nations. During the four years that the plan was in effect, the United States donated $17 billion (equivalent to $240.95 billion in 2023) in economic and technical assistance to help the recovery of the European countries that joined the ...
George C. Marshall. On 5 June 1947, George C. Marshall, at the time Secretary of State of the United States of America, gave an address at Harvard University in Cambridge, Massachusetts, where he proposed a plan to aid European recovery after the events of World War II, in the form of financial and economic assistance from the United States.
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.
After witnessing the misery in Gaza, physician Zaher Sahloul calls for a massive, international rebuilding effort there on par with the post-WWII Marshall Plan. Opinion: Half measures won’t work ...
Brian Deese, an economic adviser for Vice President Kamala Harris' presidential campaign, called on Thursday for an economic program to loan allies money to buy U.S. green energy technologies as ...
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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]
In the case of Greece, most of the Marshall Plan aid went towards rebuilding a war-devastated country that was already very poor even before World War II. [53] Though Marshall Plan aid to Greece was successful in building or rebuilding ports, railroads, paved roads, a hydro-electricity transmission system, and a nationwide telephone system, the ...