Aswan Dam allies in the Middle East, including Turkey and Iraq, were irritated and jealous that Egypt, a persistently neutral country, was being offered so much aid. In June 1956, the Soviets offered Nasser $1.12 billion at 2% interest for the construction of the dam. On 19 July the U.S. State Department announced that American financial assistance for the High Dam was "not feasible in present circumstances." On 26 July 1956, with wide Egyptian acclaim, Nasser announced the nationalization of the Suez Canal as well as fair compensation for the former owners. Nasser planned on the revenues generated by the canal helping
Aswan average relative humidity of only 26%, with a maximum mean of 42% during winter and a minimum mean of 16% during summer. The weather of Aswan is extremely clear, bright and sunny year-round, in all seasons, with a low seasonal variation, with almost 4,000 hours of annual sunshine, very close to the maximum theoretical sunshine duration. Aswan is one of the sunniest places on Earth. The highest record temperature was on July 4, 1918, and the lowest record temperature was on January 6, 1989. In 1999, South Valley University was inaugurated and it has three branches; Aswan, Qena and Hurghada.