International Centre for Settlement of Investment Disputes




International Centre for Settlement of Investment Disputes (ICSID) is an international arbitration institution established in 1966 for legal dispute resolution and conciliation between international investors. The ICSID is part of and funded by the World Bank Group, headquartered in Washington, D.C., in the United States. It is an autonomous, multilateral specialized institution to encourage international flow of investment and mitigate non-commercial risks by a treaty drafted by the International Bank for Reconstruction and Development's executive directors and signed by member countries. As of May 2016update, 153 contracting member states agreed to enforce and uphold arbitral awards in accordance with the ICSID Convention.

The center performs advisory activities and maintains several publications.

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Governance

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Membership

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ICSID's 163 member states which have signed the center's convention include 162 United Nations member states plus Kosovo. Of these member states, 154 are "contracting member states", that is they have ratified the contract. Former members are Bolivia, Ecuador (withdrew 2009), and Venezuela, which withdrew in 2012. All ICSID contracting member states, whether or not they are parties to a given dispute, are required by the ICSID Convention to recognize and enforce ICSID arbitral awards. Non-contracting signatories edit The following member states have signed the ICSID convention (date in parentheses), but have not ratified it.   Belize (1986)   Djibouti (2019)   Dominican Republic (2000)   Ethiopia (1965)   Guinea-Bissau (1991)   Kyrgyzstan (1995)   Namibia (1998)   Russia (1992)   Thailand (1985) Non members edit Brazil, India and South Africa are countries with large economies that have never been ICSID members.
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