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 year. The annual crop consumptive use of water is about . Hence, the overall irrigation efficiency is 38/46 = 0.82 or 82%. This is a relatively-high irrigation efficiency. The field irrigation efficiencies are much less, but the losses are reused downstream. This continuous reuse accounts for the high overall efficiency. The following table shows that the equal distribution of irrigation water over the branch canals taking off from the one main irrigation canal, the Mansuriya Canal near Giza, leaves much to be desired: The salt concentration of the water in the Aswan reservoir is about , a very low salinity