an economic recovery plan put forward by US Secretary of State George Catlett Marshall on June 5, 1947 to rebuild Europe after the end of World War II. Some people suggest we need another Marshall Plan today to help rebuild other devastated economies such as the economics of developing countries.
U.S. program after World War II to build up Western Europe by giving war-torn nations billions of dollars.
A U.S. program to assist the economic recovery of certain European countries after World War II. Also called the European Recovery Program, it was initiated in 1947 and it dispersed over $12 billion before it was completed in 1952.