Who Offered Billions of Dollars in Aid to Latin America?


Quick Answer

In a gesture to extend the olive branch, the United States, led by President John F. Kennedy, proposed a plan to supplement Latin America with billions of dollars in reparations. According to History.com, the plan spanned 10 years.

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Full Answer

During and succeeding the Cold War, the United States offered economic aid to Japan and many European countries that had been damaged during the war. Latin American countries became deeply angered when they found out about these compensations. In fact, during Vice President Richard Nixon's visit to Caracas, Venezuela, in 1958, a bomb was thrown at his car. Latin Americans provided the United States with raw materials during the war and felt no thanks in return. In May 1961, the money began rolling out, as Congress voted for an initial grant of $500 million. This project, known as the Alliance for Progress, was ultimately deemed a failure since most funds rewarded went to corrupt government officials and never made it to the general population.

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