Answer:
After coming to power in 1956 and nationalizing the Suez Canal, Gamal Abdul Nasser used the money raised from operating the canal to fund a project, the Aswan Dam on the Nile, to further bolster Egyptian national pride and economy.
Step-by-step explanation:
The Aswan Dam is one of the largest dams in the world, completed in 1970 near Aswan in Egypt, near the first cataract of the Nile. The construction project was initiated by the Soviet Union and the Egyptian government. It controlled hundreds of kilometers of annual floods in the Nile.
There are two large dams in the Nile near Aswan. The British began building the first Aswan Dam in 1899. The dam was completed in 1902 and was the largest dam in the world at two kilometers long and 54 meters high. The purpose of the dam was to regulate the irrigation of crops in the Nile Valley and the annual flooding of the Nile. The dam was opened on 10 December. The dam was further extended in 1907-1912 and 1929-1933.
In 1946 the dam was in very poor condition. After Gamal Abdel Nasser became President of Egypt in 1954, the United States and the United Kingdom planned to build a new, much higher dam a few kilometers south and gave Egypt a $ 270 million loan but canceled it in June 1956.
Nasser then gained support from the Soviet Union and China. The construction site lasted from 1960 to 1970. The dam was opened on 21 July. The first part was completed in 1964. The dam was built under the control of Soviet engineers and architects. Most of the material used in the building came from the Soviet Union.