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Marshall Plan

  
  Thursday, 27-Jun-2002 13:20:35 EDT  
  

Timeline: Historical Perspective on U.S. Foreign Assistance

March 31, 1942

Institute of Inter-American Affairs formally established -- first technical assistance by United States.

November 9, 1943

Agreement signed to furnish aid to war-ravaged countries through UN Relief and Rehabilitation Administration.

December 27, 1945

International Monetary Fund (IMF) and International Bank for Reconstruction and Development (World Bank) formed.

May 15, 1947

Congress approves economic and military aid to Greece and Turkey.

June 5, 1947

Secretary of State Marshall's speech voices U.S. interest in rebuilding European economies.

April 3, 1948

Truman signs Economic Cooperation Act (Marshall Plan) creating Economic Cooperation Administration.

January 20, 1949

President Truman's Point IV inauguration speech.

June 1, 1950

Act for International Development (Point IV) creates authority for Technical Cooperation Administration.

June 30, 1950

Termination of Marshall Plan.

October 31, 1951

Mutual Security Act of 1951 unites military and economic programs and technical assistance, Mutual Security Agency established.

July 10, 1954

Public Law 480 authorizes sale and use of U.S. surplus foods for economic development.

March 1, 1961

Peace Corps created.

March 13, 1961

President Kennedy calls on people of hemisphere to join in an "Alliance for Progress."

September 4, 1961

Foreign Assistance Act combines International Cooperation Administration, Development Loan Fund and other U.S. assistance functions.

November 4, 1961

U. S. Agency for International Development created (USAID).

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