What was the economic assistance program aimed at helping Western Europe recover post-WWII called?

The economic assistance program designed to help Western Europe recover after World War II is known as the Marshall Plan. This initiative, officially referred to as the European Recovery Program, was put into effect in 1948 and aimed to provide financial aid and support to rebuild war-torn European economies. The underlying goal was not only to restore the economic stability of the nations affected by the war but also to prevent the spread of communism by promoting political stability through economic recovery.

The plan was named after then-Secretary of State George C. Marshall, who articulated the need for such assistance in a speech at Harvard University. The significant funding provided by the Marshall Plan helped to facilitate industrial and agricultural recovery, improve infrastructure, and foster trade among European nations. The successful implementation of the plan is often credited with laying the groundwork for post-war European integration and cooperation, which eventually contributed to the formation of the European Union.