What was the name of the economic program used to restore European economies after World War II? 🔊
The economic program used to restore European economies after World War II was known as the Marshall Plan, named after then-U.S. Secretary of State George C. Marshall. Announced in 1947, it aimed to aid Western European countries in rebuilding their economies to prevent the spread of communism and stabilize the region. The U.S. provided over $12 billion in economic assistance to help restore industrial and agricultural production, rebuild infrastructure, and promote cooperative economic strategies among European nations. The Marshall Plan is credited with significantly contributing to the rapid recovery and integration of European economies during the late 1940s and 1950s, paving the way for long-term prosperity.
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