- This is the official U.S. Government record of The Marshall Plan, which was a financial aid program created by the United States in 1948 under the Economic Cooperation Act to provide foreign aid to European countries following the Second World War.
- The program helped rehabilitate the economies of 17 western and southern European countries and create stable conditions where democratic institutions could survive.
- The Marshall Plan was born out of fear that Europe's economic instability following the war would have a domino effect on countries like the United States, which was why it was in the best interest of all parties to support the plan.
- For Canada, helping to stabilize Europe would only help Canada's economic and security interests in the long-term, while also stabilizing the Canadian dollar to the American dollar, which was a great concern at the time.
- The Organization for European Economic Co-operation (OEEC) formed in 1947 to help administer Canadian and American aid under the Marshall Plan.
The Economic Cooperation Act of 1948, S. 2202, 8th Cong., 2nd Sess (1948). https://www.archives.gov/exhibits/featured-documents/marshall-plan
For the official "Marshall Plan" speech by George Catlett Marshall in June 1947: https://www.oecd.org/general/themarshallplanspeechatharvarduniversity5june1947.htm
For more information on Canada's involvement with the Marshall Plan: https://www.erudit.org/en/journals/hp/1900-v1-n1-hp1112/030828ar.pdf
For information on modern discuss surrounding a Marshall Plan 2.0 following the COVID-19 pandemic: https://www.hilltimes.com/2022/03/16/canada-must-strongly-support-marshall-plan-2-0/349866
& https://www.fraserinstitute.org/blogs/canada-does-not-need-a-modern-marshall-plan-after-covid
& https://policyoptions.irpp.org/magazines/april-2020/were-going-to-need-a-marshall-plan-to-rebuild-after-covid-19/