On 5 June, General George Marshall proposed the idea of a U.S. plan to help rebuild Europe. It was feared that widespread poverty, unemployment, and dislocation could aid the Soviet Union. On 3 April 1948, President Harry Truman signed the European Recovery Act, otherwise known as the Marshall Plan. As finally constituted, aid was given to 17 European countries. U.S. aid was originally offered to all Europeans, including those under Soviet occupation. However, the Soviet Union and its satellites withdrew from the plan early on. In total, the U.S. Economic Co-operation Administration provided European countries $13 billion over four years.
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Citation: Richert, Lucas Paul. "Marshall Plan, The". The Literary Encyclopedia. First published 01 October 2008 [https://www.litencyc.com/php/stopics.php?rec=true&UID=1537, accessed 26 November 2024.]
