What was the purpose of the Dawes Plan?

The Dawes Plan was a historic economic plan to spread over many years German war reparations after World War I and to grant loans to Germany of $200 million to pay them back. It was developed to stabilize the German post-war economy by a team of experts led by the American banker Charles Dawes. It was adopted on August 16, 1924 during the so-called the London Conference and passed as binding by the Reichstag on August 30, 1924.  The Dawes Plan, as a long-term strategy of conducting economic policy towards Germany, contributed to the temporary reduction of political and economic tensions in Europe.