Word: aswan
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...breath of professionals for its daring and won the assent of kibitzers for its instinctive rightness. With an open show of sternness, Secretary of State John Foster Dulles advised Egypt's President Gamal Abdel Nasser that the U.S. is no longer interested in building the $1.3 billion Aswan High...
Soviet Foreign Minister Dmitry Shepilov reportedly has offered an easy-credit loan to help Egypt build its High Dam on the Nile at Aswan. Egypt's President Gamal Abdel Nasser is happy to have a counteroffer to set against the $270 million primary financing proposed by the U.S., Britain and the World Bank. (The Western offer awaits some ironing out of details, and is also stalled by U.S. reconsideration of where Nasser stands since his arms deal with Communist Czechoslovakia.) To get the Russian loan, Nasser would have to mortgage Egypt's all-important cotton crops...
...than on the international appeal of the policies he is obliged to follow. Right from the start of his Middle Eastern tour, Shepilov ran into one setback after another. In Cairo, Shepilov's indication that Russia was prepared to underwrite the entire cost of the High Dam at Aswan was received with polite evasiveness by his old friend Lieut. Colonel Nasser, who, up until now at least, has indicated a clear preference for having the U.S., Britain and the World Bank finance...
...full well that if Nasser accepted Russian easy terms he was bound to pay a heavy price in independence besides having a hard time laying his hands on the money-and presumably Colonel Nasser knew that, too. The U.S. does not intend to bid against the Soviets on the Aswan...
...dependent on the West alone. Now, as Foreign Minister, Shepilov was, back to inspect his handiwork. This time he also came bearing gifts, or the offer of gifts. Shepilov hoped to wean Nasser from his bargain with U.S., Britain and the World Bank to finance the High Dam at Aswan...