Grand Ethiopian Renaissance Dam production of less than 3 percent. The Grand Ethiopian Renaissance Dam could also lead to a permanent lowering of the water level in Lake Nasser, if floods are stored instead in Ethiopia. This would reduce the current evaporation of more than 10 billion cubic meter per year, but it would also reduce the ability of the Aswan High Dam to produce hydropower to the tune of a 100 MW loss of generating capacity for a 3 m reduction of the water level. However, the increased storage in Ethiopia can provide a greater buffer to shortages in Sudan and Egypt during
Aswan Dam that time the U.S. feared that communism would spread to the Middle East, and it saw Nasser as a natural leader of an anticommunist procapitalist Arab League. America and Britain offered to help finance construction of the High Dam, with a loan of $270 million, in return for Nasser's leadership in resolving the Arab-Israeli conflict. While opposed to communism, capitalism, and imperialism, Nasser presented himself as a tactical neutralist, and sought to work with both the U.S. and the USSR for Egyptian and Arab benefit. After a particularly criticized raid by Israel against Egyptian forces in Gaza in 1955, Nasser