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 exchange rate in 1970 of $2.30 per E£1): £140 million from agricultural production, £100 million from hydroelectric generation, £10 million from flood protection, and £5 million from improved navigation. At the time of its construction, total cost, including unspecified "subsidiary projects" and the extension of electric power lines, amounted to £450 million. Not taking into account the negative environmental and social effects of the dam, its costs are thus estimated to have been recovered within only two years. One observer notes: "The impacts of the Aswan High Dam (...) have been overwhelmingly positive. Although the Dam has contributed to some