The European Recovery Program, commonly known as the Marshall Plan, was a U.S. initiative launched in 1948 to aid Western Europe's economic recovery after World War II. It provided over $12 billion in economic assistance to help rebuild European economies, stabilize governments, and prevent the spread of communism. The program was instrumental in revitalizing European industries, improving infrastructure, and fostering cooperation among European nations. By promoting economic stability, the Marshall Plan not only helped to restore prosperity but also laid the groundwork for future European integration and cooperation, ultimately leading to the formation of the European Union.