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Other Marshall Plan Links 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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