Economic Cooperation Administration

The Economic Cooperation Administration (ECA) was a U.S. government agency established in 1948 to administer the Marshall Plan. The Marshall Plan, formally known as the European Recovery Program, was a U.S.-sponsored initiative to aid in the economic rehabilitation of 17 western and southern European countries following World War II. The goal was to foster stable conditions conducive to the survival of democratic institutions. The ECA distributed approximately $13 billion in economic aid, including grants and loans, over four years to help restore industrial and agricultural production, stabilize finances, and expand trade. This program was highly successful, contributing to a significant rise in the gross national products of participating European countries and aiding the renewal of key industries. The ECA was later superseded by the Organisation for Economic Co-operation and Development.1234