Financial Aid to Foreign Countries

June 11, 1947

Report Outline
United States and Foreign Reconstruction
Grants and Credits to Foreign Countries
Problem of Repayment of Foreign Loans
Special Focus

United States and Foreign Reconstruction

Prospect of New Program to Aid European Recovery

Mounting indications that Europe cannot win its battle for reconstruction and recovery without additional outside aid make it virtually certain that the United States will soon be called upon to undertake a new foreign lending program of large proportions or to initiate some peacetime variant of lend-lease. The purpose of such a program will be not only to save Europe from economic collapse and its political consequences, but to avert a world economic crisis which would seriously affect production and employment in this country.

At Harvard University, June 5, Secretary of State Marshall observed that “The rehabilitation of the economic structure of Europe quite evidently will require a much longer time and greater effort than had been foreseen.”

The truth of the matter is that Europe's requirements for the next three or four years of foreign food and other essential products—principally from America—are so much greater than the present ability to pay that she must have substantial additional help or face economic, social, and political deterioration of a very grave character …

ISSUE TRACKER for Related Reports
Foreign Aid
Apr. 14, 2017  Rethinking Foreign Aid
May 16, 2014  U.S. Global Engagement
Oct. 02, 2012  Rebuilding Haiti
Mar. 23, 2012  U.S.-Europe Relations
Jun. 17, 2011  Foreign Aid and National Security
Apr. 26, 2002  Foreign Aid After Sept. 11
Sep. 27, 1996  Reassessing Foreign Aid
Sep. 23, 1988  Foreign Aid: a Declining Commitment
Dec. 01, 1965  Development Aid for Poor Nations
Dec. 19, 1962  Foreign Aid Overhaul
Jun. 19, 1957  Population Growth and Foreign Aid
Dec. 12, 1956  Extension of Foreign Aid
Jan. 26, 1955  Aid to Asia
Feb. 04, 1953  Trade Policy and Foreign Aid
May 03, 1951  Future of Foreign Aid
Feb. 09, 1949  American Aid to Greece
Oct. 17, 1947  Conditions for American Aid
Jun. 11, 1947  Financial Aid to Foreign Countries
Aug. 06, 1940  American Relief of Famine in Europe
Feb. 16, 1940  Loans and Credits to Foreign Countries
BROWSE RELATED TOPICS:
Humanitarian Assistance
International Economic Development
Regional Political Affairs: Europe