Marshall Plan

American initiative for foreign aid to Western Europe following World War II

The Marshall Plan (officially the European Recovery Program, ERP) was an American initiative enacted in 1948 to provide foreign aid to Western Europe. The United States transferred US$13.3 billion to 17 European countries (equivalent to $137 billion in 2025) in economic recovery programs to Western European economies after the end of World War II in Europe. Replacing an earlier proposal for a Morgenthau Plan, it operated for four years beginning on April 3, 1948; though in 1951, the Marshall Plan was largely replaced by the Mutual Security Act.

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