Which cold war events involved economic aid to european nations
History · High School · Thu Feb 04 2021
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The Cold War event that explicitly involved economic aid to European nations was the Marshall Plan, also known as the European Recovery Program. It was initiated by United States Secretary of State George Marshall in 1948 and aimed to rebuild the economies and spirits of western Europe after the devastating effects of World War II. Through the Marshall Plan, the U.S. distributed over $12 billion in economic aid (more than $100 billion in today's dollars) to help reconstruct European economies, modernize industry, and prevent the spread of communism. The aid was offered to all European nations, including the Soviet Union and its allies, but the Soviets refused to participate and also prevented some Eastern Bloc countries from accepting the aid.