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Truman signs Marshall Plan

Truman signs Marshall Plan

On April 3, 1948, U.S. President Harry S. Truman indicators into law the Foreign Assistance Act, generally defined as the Marshall Plan. Named immediately after U.S. Secretary of State George C. Marshall, the machine channeled a lot more than $13 billion in help Europe among 1948 and 1951. Meant to spark economic recovery in European countries devastated by World War II, the strategy also saved the United States from the postwar recession by delivering a broader market for American goods. However, due to the fact the USSR prevented nations like Poland and Czechoslovakia from participating, the program also contributed to the raising of the “Iron Curtain” among Eastern and Western Europe.

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Source: History