The 1924 Dawes Plan changed Germany's reparation payments. In May 1929, the Young Plan reduced further payments to 112 billion gold marks ($28.35 billion over a period of 59 years, which was 1988). In addition, the Young Plan divided the yearly payment, set at two billion gold marks (US$473 million), into two parts: one part equal to one third of the sum and could not be postponed and a postponable part for the remaining two-thirds.