Aswan+Dam

Aswan Dam "Fiasco": In order to combat the effects of poverty and a soaring population, and to develop Egypt economically, Nasser proposed to build a dam along the Nile, the Aswan Dam. Washington, in an attempt to maintain good relations with the Egyptians as well as an attempt to regain influence over Egypt, offered economic assistance to the Egyptians to help build the dam. However, Nasser didn’t accept the offer when he had the chance, and after reconsideration, Washington withdrew the offer of the loan, leaving an angry Nasser. Afterwards, Nasser decided that, in order to pay for the dam, the Suez Canal would be nationalized.