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Lend-Lease program: |
| Lend-Lease was the program outlined by the Neutrality Acts that allowed the United States to provide Allied nations with defense supplies without actually going to war with the Axis powers. The U.S. gave Lend-Lease aid to Great Britain, the USSR, China, and over 30 other nations. By 1945, when the war ended, the U.S. had lent out over $45 billion in supplies. By 1960 almost the entire debt was repaid, except for the Soviet Union's debt. However, the U.S. and the USSR came to an agreement in 1972, by which the USSR were to pay back the $722 million debt in installments through the year 2001. |
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