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International Centre for Settlement of Investment Disputes


The International Centre for Settlement of Investment Disputes (ICSID), an institution of the World Bank Group based in Washington, D.C., was established in 1966 pursuant to the Convention on the Settlement of Investment Disputes between States and Nationals of Other States (the ICSID Convention or Washington Convention). 

ICSID has an Administrative Council, chaired by the World Bank's President, and a Secretariat. 

It provides facilities for the conciliation and arbitration of investment disputes between member countries and individual investors.

Members of the ICSID are 159 countries.

Although the ICSID is a member of the World Bank Group and receives its funding from the World Bank, it was established as an autonomous institution by a separate treaty drafted by the International Bank for Reconstruction and Development's executive directors and signed by member countries. 

The ICSID is contracted with and governed by its member countries, but has its own Secretariat which carry out its normal operations. 

The center facilitates arbitration and conciliation proceedings, allowing independent tribunals and arbitration mechanisms to hold proceedings under its rules, and all contracting member states agree to enforce and uphold arbitral awards in accordance with the ICSID Convention. 

The ICSID also helps administer dispute resolution proceedings under other treaties and for alternative arbitration mechanisms. 

The center also performs advisory activities and maintains several publications.


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