Sign In
Ask Question
Yaritza Walker
History
23 December, 19:34
When were the marshall plan loans paid off?
+3
Answers (
1
)
Trevor Herring
23 December, 19:39
0
- $ 1.6 billon's worth (at end-1940s prices) of Marshall Plan aid (not actual money but machinery and other capital goods, fuel, fertilizer, etc produced by US companies who invoiced the US government) as a loan to West Germany and West Berlin. Marshall Plan aid also offered to East Germany but refused.
- other Marshall Plan recipient countries got their aid as non-repayable grants.
- in a 1953 treaty the loan was forgiven except for $ 1 billion which was to be repaid over the next 30 years but was in fact repaid by 1966
In a way Germany profited from being treated less favorably (loan instead of grant) initially. The German companies paid the value of the goods imported from the US into an account with the central bank, that was used as a revolving fund loaning money to businesses until such time as the money had to be repaid. The actual part repayment seems to have been done from the general federal budget, so the fund remained as a separate asset which could not be spent for general government expense. It still exists (named "ERP-Sondervermögen"), is used to give loans to businesses for investments, and seems to be at about 12 billion euros these days.
Comment
Complaint
Link
Know the Answer?
Answer
Not Sure About the Answer?
Find an answer to your question 👍
“When were the marshall plan loans paid off? ...”
in 📗 History if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
what's the thing from McDonald's with the sausage egg and cheese but it's in a pancake with syrup called?
Answers (1)
Select the best answer for the question. 8. The way all jobs in modern society are connected to other jobs is called A. settling disputes. B. the money supply. C. division of labor. D. economic regulations.
Answers (1)
What did king georgia 111 want during his reign
Answers (1)
Which event caused the united states to declare war & enter world war II? anyone got world history unit 8 lesson 2 answers?
Answers (1)
Control of the bosporus and dardanelles straits was a strategic objective in both world war i and world war ii because these straits
Answers (1)
New Questions in History
Which of the following best explains the origins of Judaism? A. Judaism began with Abraham and his monotheistic belief system. B. Judaism began with the angel Gabriel visiting Judea. C. Judaism began with the prophet Jesus Christ. D.
Answers (1)
Which of the following characterizes child labor in the 1800?
Answers (2)
What new class of Africans did the colonialism inspire in many African nations?
Answers (1)
What was the name given to Mussolini's followers?
Answers (1)
What impact did (effect) did the nuremburg laws have on the jewsish population
Answers (1)
Home
»
History
» When were the marshall plan loans paid off?
Sign In
Sign Up
Forgot Password?