Poverty in Africa waste of resources: Another example of misspent money is the Aswan High Dam. The dam was supposed to have modernized Egypt and Sudan immediately. Instead, the block of the natural flow of the Nile River meant that the Nile's natural supply of nitrate fertilizer and organic material was blocked. Now, about one-third of the dam's electric output goes directly into fertilizer production for what was previously the most fertile area on the planet. Moreover, the dam is silting up and may cease to serve any useful purpose within the next few centuries. In addition, the Mediterranean Sea is slowly becoming
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