In the end of WWII, there was a large-scale policy to rebuild Western Europe to stop the spread of Communism across the Iron Curtain; here is the wikipage for the Plan.
In today's world Eastern Europe and Russia is generally considered quite poor, still struggling from the issues that sprung up after the Fall of the Communist Bloc - particularly in comparison to its Western neighbours.
The question thus is this - why wasn't there a Marshall Plan after the Fall? Did the US never anticipate Eastern Europe Russia to become this poor - or did they never care? How useful would've a Marshall Plan been to increase global prosperity in general?
Both questions and comments on the OP welcome.
There was no Marshall Plan but there were other efforts and the Bush administration cared deeply about the transition from command to market economies across Eastern Europe and the former Soviet Union. The Marshall Plan had relied on official foreign aid allocated from the U.S. federal budget. It was a massive program. As the Cold War was coming to an end a similar program was simply off the table. The U.S. budget deficits and national debt mounted throughout the 1980s. President Bush often found himself in standoffs with Congress over the federal budgets, spending cuts, and tax increases. The U.S. simply could not afford to grant official aid to these former communist nations.
And even if it did, how would it be spent? What would the money be used for? The nations that would have received the aid had no experience (or relatively little depending on the particular nation) with the market economy and private enterprise for over 40 years. The Marshall Plan was used to help rebuild Europe after World War II. The task in Eastern Europe and the former Soviet Union were much more monumental. It wasn't a matter of rebuilding, but undertaking a fundamental transition in their economic and political foundations. These nations did not need just money but advice and technical expertise on how to create the legal and economic structures of market economies (like contracts, property rights, labor laws, price deregulation, convertible currencies, etc.) The Bush administration and the West European nations all recognized that massive amounts of foreign aid would do no good UNLESS these nations first established these new structures. And these new structures could not just be established overnight; it took a matter of years.
The United States did offer some types of aid. For Poland and Hungary, for instance, it created a new program in partnership with private groups called Enterprise Funds. The government provided some sums of money ($25-100 million depending on the nation) and solicited private charity donations to aid the processes underway in Eastern Europe. Under these efforts, private groups would go to these nations to monitor the use of these funds and offer advice on creating fair market economies.
The former Soviet Union was another matter. These nations, Russia in particular, did not need money. The former Soviet Union was rich in natural resources and a decent (though inefficient) industrial, technological, and agricultural base. These nations suffered, instead, for an inability to use these resources efficiently and produce competitive goods. Towards the end of his rule, Gorbachev had asked Bush and Western Europe leaders for massive amounts of official aid, and these leaders all requested Gorbachev to submit his plan for transitioning the Soviet economy. When the West looked at these plans, they realized that Gorbachev and his advisor had no idea what they were doing.
Numerous times, Secretary of State James Baker pressed Gorbachev and his advisors to undertake sweeping efforts such as price deregulation. Such efforts would have made official Western aid more effective since market structures would be somewhat in place. Yet, Gorbachev refused. He feared that rapid reforms would cause too many political problems and undermine the very reforms he championed. Gorbachev emphasized that a transition had to be gradual, minimizing the burdens on Soviet citizens.
At the G7 meeting in Houston, Texas, 1990, Bush and the other Western leaders decided that offering the Soviet Union official aid would only be a waste. Instead they offered technical assistance on reforming the economy--efforts such as making the distribution network for agricultural more efficient and creating a convertible currency. In these instances, Western experts went to the East, observed, and offered advice. The G7 also authorized the World Bank and IMF to study the Soviet economy, making its own recommendations, and if wise, offering funds.
Now, events quickly spiraled out of control for Gorbachev. Once the Soviet Union collapsed, however, all of these efforts continued and some expanded. For example, the U.S. began offering the former Soviet states aid in keeping Soviet nuclear and chemical weapons under control. Overall, there was no Marshall Plan due to U.S. budget constraints, and, more importantly, because the unique situation in the former Soviet bloc would have made official aid ineffective.
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