Marshall Plan

(redirected from Marshal plan)
Also found in: Dictionary, Thesaurus, Encyclopedia.
Related to Marshal plan: Eisenhower Doctrine

Marshall Plan

After World War II, Europe was devastated and urgently needed an organized plan for reconstruction and economic and technical aid. The Marshall Plan was initiated in 1947 to meet this need.

The originator of the plan, U.S. Secretary of State George C. Marshall, introduced it in a speech at Harvard University on June 5, 1947. He pointed out two basic reasons for providing aid to Europe: the United States sought the reestablishment of the European countries as independent nations capable of conducting valuable trade with the United States; and the threat of a Communist takeover was more prevalent in countries that were suffering economic depression.

In 1947 a preliminary conference to discuss the terms of the program convened in Paris. The Soviet Union was invited to attend but subsequently withdrew from the program, as did other Soviet countries.

Sixteen European countries eventually participated, and, in July 1947, the Committee for European Economic Cooperation was established to allow representatives from member countries to draft a report that listed their requirements for food, supplies, and technical assistance for a four-year period.

The Committee for European Economic Cooperation subsequently became the Organization of European Economic Cooperation, an expanded and permanent organization that was responsible for submitting petitions for aid. In 1948, Congress passed the Economic Cooperation Act (62 Stat. 137), establishing funds for the Marshall Plan to be administered under the Economic Cooperation Administration, which was directed by Paul G. Hoffman.

Between 1948 and 1952, the sixteen-member countries received more than $13 billion dollars in aid under the Marshall Plan. The plan was generally regarded as a success that led to industrial and agricultural production, while stifling the Communist movement. The plan was not without its critics, however, and many Europeans believed the Cold War hostilities between the Soviet nations and the free world were aggravated by it.

References in periodicals archive ?
Nowadays, we may have forgotten the Marshal Plan but we certainly don't resent it.
He stressed the need to benefit from the GCC Marshal Plan to revitalise Bahrain's economic sectors and create new jobs.
A multicluster rapid assessment mechanism should immediately be carried out for which our member organizations are prepared and on its basis a marshal plan should be devised for the development of FATA.
The BISP is a marshal plan of poverty eradication, she added, and it has accomplish the task of registering 3.
The claim that he was able to secure British support for a Marshal Plan for Pakistan sounds utterly hollow; for, Mr Cameron only agreed to play his role for Pakistani goods access to European markets, whatever that translates into.
1000 monthly income support; rather its a comprehensive Marshal Plan leading towards creation of a welfare state.
He said that Pakistan government has been urging the international community to give Pakistan and the region a Marshal Plan for rebuilding the economy ravaged by war against terror.
Indeed Pakistan needs a Marshall Plan for strategic economic rehabilitation " The President said that a Marshal Plan was needed to overcome economic problems and called for the Friends of Democratic Pakistan to translate into practice the pledges of economic and financial support to Pakistan.
Indeed Pakistan needed a Marshal Plan to overcome its economic problems compounded by the fight against militancy, the President said.
Indeed Pakistan needs a Marshall Plan for strategic economic rehabilitation The President said that a Marshal Plan was needed to overcome economic problems and called for the Friends of Democratic Pakistan to translate into practice the pledges of economic and financial support to Pakistan.