Marshall Plan

Definition

The Marshall Plan, officially known as the European Recovery Program, was an American initiative passed in 1948 to aid Western Europe, in which the United States provided over $12 billion (approximately $130 billion in current dollar value) of economic assistance to help rebuild Western European economies after the end of World War II. Its primary goal was to prevent the spread of communism by revitalizing war-torn economies, thereby reducing the appeal of communist parties.

Related terms

Cold War:

A period of geopolitical tension between the Soviet Union and the United States from 1947 to 1991, characterized by threats, propaganda, and other measures short of open warfare.

Bretton Woods Institutions: Refers to the World Bank and International Monetary Fund (IMF), established during a conference in 1944 with goals including promoting international monetary cooperation and financial stability.

Truman Doctrine: A United States policy established in 1947 that promised military and economic aid to countries threatened by communism, marking the start of America's containment strategy against Soviet expansion