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 remain above during the coldest month of the year while average low temperatures remain above . Winters are short, brief and extremely warm. Wintertime is very pleasant and enjoyable while summertime is unbearably hot with blazing sunshine although desert heat is dry. The climate of Aswan is extremely dry year-round, with less than of average annual precipitation. The desert city is one of the driest ones in the world, and rainfall doesn't occur every year, as of early 2001, the last rain there was seven years earlier. Aswan is one of the least humid cities on the planet, with an