(1948–51) U.S.-sponsored program to provide economic aid to European countries after World War II. The idea of a European self-help plan financed by the U.S. was proposed by
It provided almost $13 billion in grants and loans to 17 countries and was a key factor in reviving their economies and stabilizing their political structures. The plan's concept was extended to less-developed countries under the {{link=Point Four Program">Point Four Program .