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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.
Compared to America's 1948 GDP of $258 billion and total Marshall plan expenditure (1948-1952) of $13 billion, of which Germany received $1 billion in loans and $400 million as a grant). The US competitors of German firms were encouraged by the occupation authorities to access all records and facilities. [32]
Marshall Plan expenditures by country. The Marshall Plan was launched by the United States in 1947–48 to replace numerous ad hoc loan and grant programs, with a unified, long-range plan to help restore the European economy, modernize it, remove internal tariffs and barriers, and encourage European collaboration. It was funded by 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 Act followed Truman's signing of the Economic Cooperation Act (the Marshall Plan), on April 3, 1948, which provided non-military, economic reconstruction and development aid to Europe. The 1949 Act was amended and reauthorized on July 26, 1950. [4]
It operated as a separate state in the Marshall Plan (launched in April 1948) and the related OEEC (formed in March 1948). [8] Meanwhile, the Tito-Stalin split in mid-1948 led to the deterioration of relations between Yugoslavia and the Soviet Union, which resulted in a political stalemate, and the proposal to return the territory to Italy was ...