After the 2nd Arab summit conference in Cairo of January 1964 (with the backing of all 13 Arab League members), Syria in a joint project with Lebanon and Jordan, started the development of the water resources of Banias for a canal along the slopes of the Golan toward the Yarmouk River. While Lebanon was to construct a canal form the Hasbani River to Banias and complete the scheme. The project was to divert 20 to 30 million cubic metres of water from the river Jordan tributaries to Syria and Jordan for the development of Syria and Jordan. The Syrian construction of the Banias to Yarmouk canal got under way in 1965. Once completed, the diversion of the flow would have transported the water into a dam at Mukhaiba for use by Jordan and Syria before the waters of the Banias Stream entered Israel and the Sea of Galilee. Lebanon also started a canal to divert the waters of the Hasbani, whose source is in Lebanon, into the Banias. The Hasbani and Banias diversion works would have had the effect of reducing the capacity of Israel's carrier by about 35% and Israel's overall water supply by about 11%. Israel declared that it would regard such diversion as an infringement of its sovereign rights. The Finance of the project was through contributions by Saudi Arabia and Egypt. This led to military intervention from Israel, first with tank and artillery fire and then, as the Syrians shifted the works further southwards, with airstrikes.