Sustained aerial bombardment during the war had badly damaged most major cities, and industrial facilities were especially hard-hit. There were no agents working among the Soviets or their satellite states. Our editors will review what youve submitted and determine whether to revise the article. The Marshall Plan and the establishment of the OEEC Through the revolving loan system, the Fund had by the end of 1995 made low-interest loans to German citizens amounting to around DM 140 billion. Marshall Plan, formally European Recovery Program, (April 1948December 1951), U.S.-sponsored program designed to rehabilitate the economies of 17 western and southern European countries in order to create stable conditions in which democratic institutions could survive. To coordinate the European participation, 16 countries, led by the United Kingdom and France, established the Committee of European Economic Cooperation to suggest a four-year recovery program. [54] In addition, Western embassies in Moscow were isolated, with their personnel being denied contact with Soviet officials. Despite its reservations, the 80th Congress implemented Truman's requests, further escalating the Cold War with the USSR. The Marshall Plan gave another $13 billion, equivalent to about $100 billion in 2010 value. In World War II, the three great allied powers UK, US and Soviet Union formed the Grand Alliance, which was the key to victory. In 1947, two years after the end of the war, industrialist Lewis H. Brown wrote, at the request of General Lucius D. Clay, A Report on Germany, which served as a detailed recommendation for the reconstruction of post-war Germany, and served as a basis for the Marshall Plan. Technically known as the European Recovery Program, the plan was passed by the U.S. Congress with a decisive majority and was signed by President Truman on April 3, 1948--just in time to influence the Italian election in that year. Franco, along with Hitler and Mussolini, was guilty of the conspiracy that resulted in the World War II, in which the belligerency of Franco was postponed until the moment that it mutually agreed to one another. The cookie is used to store the user consent for the cookies in the category "Other. Continue with Recommended Cookies. "[96], Marshall Aid in general and the counterpart funds in particular had a significant impact in Cold-War propaganda and economic matters in Western Europe, which most likely contributed to the declining appeal of domestic communist parties.