The purpose of the Marshall Plan, officially known as the European Recovery Program, was to provide extensive economic assistance for the reconstruction of European nations following World War II. Announced in 1947 by U.S. Secretary of State George C. Marshall, the initiative aimed to stabilize economies, prevent the spread of communism, and foster recovery in war-torn countries. By providing over $12 billion (roughly $130 billion today) to Western European nations, the Marshall Plan helped restore industry, infrastructure, and trade. It also strengthened political alliances between the U.S. and Western Europe, promoting economic cooperation, leading to the eventual formation of the European Economic Community, and influencing Europe’s integration in the decades that followed.