board operating in Europe, the Economic Cooperation Agency (ECA). Distribution of the ERP funds among the recipient countries and their allocation to key sectors were placed in the hands of a U.S. assistance under the ERP took the form of grants the loan component had deliberately been kept low to avoid transfer problems. Congress appropriated payments to European countries in annual installments. After a transitory 90-Days Recovery Program, the Marshall Plan spanned three ERP years from July 1948 to June 1951. Officially termed the European Recovery Program (ERP), the Marshall Plan was approved by Congress in the Economic Cooperation Act of April 1948. Albrecht Ritschl, Humboldt Universitaet – Berlinīetween 19, the United States poured financial aiding totaling $13 billion (about $100 billion at 2003 prices) into the economies of Western Europe.
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