The key purpose of the Marshall Plan, enacted in 1948, was to aid the economic recovery of European nations after the devastation of World War II. Officially known as the European Recovery Program, it provided over $12 billion in financial assistance to help rebuild war-torn European economies, restore infrastructure, and prevent the spread of communism. By fostering economic stability and development, the Marshall Plan aimed to promote cooperation and integration among European countries, ultimately contributing to the formation of the European Union. The plan is credited with revitalizing European economies and establishing a foundation for long-term growth and prosperity.