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Ismail Pasha[is´´mAEl pAshA´] Pronunciation Key, 1830–95, ruler of Egypt (1863–79), son of Ibrahim Pasha.
Ismail used the Egyptian cotton crop, enormously enhanced in value by the American Civil War, to obtain credits for grandiose schemes, including irrigation projects, schools, palaces, the construction of the Suez Canal, and the extension of Egyptian rule in Sudan.
In 1875, Ismail was forced to sell to Great Britain his stockholdings (some 44%) in the Suez Canal, and in 1876 he was obliged to place the finances of Egypt under the control of a debt commission that represented the French and British bondholders.
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