Marshall Plan
Marshall Plan: a plan for the post-war economic rehabilitation of Europe first proposed by George C. Marshall, then United States Secretary of State, in a speech at Harvard University on 5 June 1947. It was put into effect on 3 April 1948 when President Truman signed the Foreign Assistance Act. The United States made available an estimated $13,000 million between 1948 and 1952 for this purpose. The Marshall Plan was administered through Organisation for European Economic Cooperation (OEEC), the predecessor of the OECD. Apart from its direct contribution to the reconstruction of the participating economies, the Plan also gave impetus to the later European economic integration through the European
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Author of the text: W. Goode
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