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 Dam soil surface over the years. Since most of the farmland did not have proper subsurface drainage to lower the groundwater table, salinization gradually affected crop yields. Drainage through sub-surface drains and drainage channels is essential to prevent a deterioration of crop yields from soil salinization and waterlogging. By 2003, more than 2.0 million have been equipped with a subsurface drainage system at a cost from 1973 to 2002 of about $3.1 billion. Contrary to many predictions made prior to the Aswan High Dam construction and publications that followed, that the prevalence of schistosomiasis (bilharzia) would increase, it did not. This