Word: niles
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Dates: during 1950-1959
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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...
...Beginning of Reconstruction." Streets were bright with arches, flowers, strings of light and a huge plywood figure of a fedayeen commando loomed high over the sidewalks. Loudspeakers blared patriotic music to the" milling crowds in the Cairo streets, and at night fireworks arched high over the dark Nile...
Later this week Banker Black comes to the most crucial part of his trip: Egypt. The most important single development project in the world today is the proposed high dam spanning the Nile at Aswan. The 15-year, $1.3 billion project will have 1,440,000 kw. of power capacity and increase Egypt's electric supply eightfold. Several months ago Black worked out a deal to lend Egypt $200 million to help get the project started, with the U.S. and Great Britain adding grants of $70 million. The only thing to be settled was the question of water rights...
...Minister Amer. an earnest, soft-spoken farmer boy from the Upper Nile, is the No. 2 man of Egypt's revolutionary regime, the closest confidant of Premier Gamal Abdel Nasser, and the leader who would assume command of the allied armies of Egypt, Syria, Saudi Arabia and Yemen should war break out with Israel...
...last analysis, does not want to be. These new doubts about Nasser, and his own attempt to improve the bargain, have held back the final signing of an agreement with him (by the U.S., Britain and the World Bank) to build the $1.3 billion Aswan Dam on the Nile-a project bigger than the Pyramids and infinitely more useful. Nasser last week casually let drop to the New York Times's Caruthers: "We have not yet rejected the Soviet offer-I do not mention [this] as a threat or as bluff...