The Marshall Plan

In June 1947, US Secretary of State George Marshall outlined his plan to reconstruct Europe’s economy. Aid was to be given in the form of food, grants for buying equipment, improvement of transport systems, investment etc. The proposal, adopted in April 1948, was known as the Marshall Plan or the European Recovery Program. The US administration wanted economic recovery and political stabilization in Europe, including the United Kingdom, France and Italy, which faced financial hardship after the Second World War.