Announced on June 5th, 1947 by George Marshall, the European Recovery Program, ERP, called for a system of aid and loans, at first to all nations affected by the war.
However, as plans for the ERP were being formalized, Russian leader Stalin, afraid of US economic domination, refused the initiative and pressured the nations under his control into refusing aid despite a desperate need.
During the years of the plan, receiving nations experienced economic growth of between 15%-25%. Industry was quickly renewed and agricultural production sometimes exceeded pre-war levels. This boom helped push communist groups away from power and created an economic divide between the rich west and poor communist east as clear as the political one.