Aswan Dam Abdel Nasser. The Free Officers were convinced that the Nile Waters had to be stored in Egypt for political reasons, and within two months, the plan of Daninos was accepted. Initially, both the United States and the USSR were interested in helping the development of the dam, but this movement happened in the midst of the Cold War, as well as of growing intra-Arab rivalries. In 1955, Nasser was trying to portray himself as the leader of Arab nationalism, in opposition to the traditional monarchies, especially the Hashemite Kingdom of Iraq following its signing of the 1955 Baghdad Pact. At
Aswan Dam Though the Czech arms deal actually increased the American willingness to invest at Aswan, Great Britain cited the deal as a reason for reversing its promise of funds. What angered Dulles much more was Nasser's diplomatic recognition of China, which was in direct conflict with Dulles's policy of containment. There are several other reasons why the U.S. decided to withdraw its offer of funding. Dulles believed that the USSR would not fulfill its commitment to help the Egyptians. He was also irritated by Nasser's neutrality and attempts to play both sides of the Cold War. At the time, other western