Political Science · International Relations
UGC NET December 2015 Political Science
Marshall Plan, 1947 was also formerly known as
AEuropean Reconstruction Programme
BEuropean Revival Plan
CEuropean Recovery Programme ✓ Correct
DEuropean Re-strengthening Plan
Correct answer: (C) European Recovery Programme — The Marshall Plan of 1947 was formally known as the European Recovery Programme.
Explanation
★The Marshall Plan of 1947 was formally known as the European Recovery Programme.
★It is named after US Secretary of State George C. Marshall, who proposed it in a Harvard speech in June 1947.
★The programme channelled about thirteen billion dollars of American aid to rebuild Western Europe after the Second World War.
★It was enacted under President Harry Truman and ran for roughly four years from 1948.
★A central aim was to contain the spread of communism by restoring prosperity and stability.
★The Soviet Union rejected the aid and barred its satellites, deepening the division of Europe.
★The plan revived industry and trade and helped lay the groundwork for later Western European integration.
★The Marshall Plan is a standard topic in the economic history of the early Cold War.
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