The Marshall Plan, formally known as the European Recovery Program, was implemented after World War II to aid in the economic recovery of European nations. Initiated in 1948, it aimed to rebuild war-torn economies, stabilize food production, and prevent the spread of communism, which was gaining appeal in impoverished countries. By providing over $12 billion (around $100 billion today) in aid, the plan facilitated infrastructure restoration, boosted industrial and agricultural production, and re-established trade connections. The Marshall Plan is credited with significantly contributing to the rapid recovery and growth of Western Europe, helping to secure a democratic and capitalist framework in the region.