|Economic Cooperation Administration (E.C.A.)|
An Act for the appropriation of $6,098m. for foreign aid was signed by President Truman in 1948 and the E.C.A. was set up under Paul G. Hoffman, President of the Studebaker Corporation, to administer the fund. Under the programme the U.K. received $2,694m. The E.C.A. was superseded by the Mutual Security Agency in 1951, the Foreign Operations Administration in 1953 and the International Cooperation Administration in 1955.
|Reference: The Penguin Dictionary of Economics, 3rd edt.|