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
Hanabanilla Dam Hanabanilla Dam The Hanabanilla Dam is an embankment dam on the Hanabanilla River near the village of El Salto del Hanabanilla in Villa Clara Province, Cuba. The purpose of the dam is to provide water for irrigation and municipal uses and to generate hydroelectric power. The dam withholds a reservoir of and the power station, located near its base, has an installed capacity of 43 MW. It is the largest hydroelectric power station in the country. Near the southern end of the reservoir is Jibacoa Dam, an auxiliary dam, which closes off one valley to create the existing large reservoir.