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2019 ICSID Annual Report Summary

Core Content

The 2019 ICSID Annual Report highlights the Centre's continued role as the leading international institution for resolving investment disputes between States and foreign investors. Established in 1966 under the ICSID Convention, ICSID provides impartial dispute resolution services through specialized rules, world-class facilities, and expert support. The report outlines the Centre's operational achievements, rule amendments, and growth in membership and caseload during the fiscal year 2018–2019.

Main Points

• ICSID Overview:
  ICSID is the only global institution dedicated to international investment dispute resolution. It offers arbitration, conciliation, mediation, and fact-finding services. Since its inception in 1972, it has administered the majority of known international investment disputes.

• Annual Report Details:
  The report covers the fiscal year from July 1, 2018, to June 30, 2019. It includes audited financial statements and highlights ICSID's commitment to modernizing its procedures and facilities.

• Rule Amendments:
  ICSID made substantial progress in updating its procedural rules, with two iterations of proposed amendments published in 2018 and 2019. These amendments aim to enhance efficiency, reduce costs, and increase transparency, particularly in areas like third-party funding disclosure. The proposals are expected to be finalized and approved by the Administrative Council in 2020.

• New Facilities and Collaborations:
  ICSID opened new offices and a state-of-the-art hearing centre in Washington, D.C. The Centre also signed cooperation agreements with several international dispute resolution institutions, expanding its global reach and promoting knowledge sharing.

• Membership Growth:
  By the end of FY2019, ICSID had 154 Contracting States and 163 Signatory States to the ICSID Convention. Mexico became the 154th Contracting State, and Djibouti became the 163rd Signatory State. The report includes a complete list of Contracting and Signatory States on page 67.

• Panel of Arbitrators and Conciliators:
  The Panels serve as a crucial resource for dispute resolution. In FY2019, 51 designations were made by 12 Contracting States, bringing the total number of Panel members to 680. The designees represented a diverse range of nationalities, languages, and backgrounds.

• Caseload Trends:
  ICSID administered a record 306 cases in FY2019, compared to 279 in the previous year. This reflects the growing demand for its services and the robustness of the ICSID system. The majority of new cases were registered under the ICSID Convention, with a notable increase in cases governed by non-ICSID rules, such as UNCITRAL.

• Geographic and Sectoral Distribution:
  Cases were registered across all geographic regions, with a significant share from Eastern Europe and Central Asia (25%), South America (21%), and the Middle East and North Africa (17%). The economic sectors involved included energy (21%), electric power (21%), and construction (15%).

• Appointment Process:
  In FY2019, 171 appointments were made to ICSID tribunals, commissions, and ad hoc committees. 80% of these appointments were made by the parties or their appointed arbitrators, while 20% were made by ICSID. The Centre also saw a continued increase in the diversity of its appointees, with 24% being women and 15% being first-time appointees.

• Proceedings Conducted:
  Over 183 sessions or hearings were held during the year, with the majority conducted via telephone or video conference. The proceedings were primarily in English (57%), with Spanish and French also used. English-Spanish was the most common bilingual combination.

• Awards and Decisions:
  24 awards were rendered, and 548 decisions and procedural orders were issued. The Centre publishes awards with the parties' permission, and in cases where permission was not granted, it publishes legal reasoning or references to other public rulings.

• Post-Award Remedies:
  16 applications for post-award remedies were registered, including requests for rectification, supplementation, and revision of awards. Eight annulment applications were also registered, with the majority brought by the respondent.

• Case Outcomes:
  In FY2019, 59 proceedings were concluded, a record high. Of these, 23 were decided by tribunals, with 11 awards upholding investors' claims and 8 tribunals rejecting all claims. 12 proceedings were settled or discontinued, and 11 were resubmitted to new tribunals.

Key Information

• Total Cases Administered in FY2019: 306
• New Cases Registered: 52
• Cases Concluded: 59
• Awards Rendered: 24
• Post-Award Remedies Registered: 16
• Annulment Applications: 8
• Panel Members: 680
• Languages Used: English (57%), Spanish (7%), French (4%)
• Number of Female Appointees: 24% (31% among first-time appointees)
• Number of Member States: 154 Contracting States, 163 Signatory States
• New Contracting State: Mexico (154th)
• New Signatory State: Djibouti (163rd)

Conclusion

The 2019 ICSID Annual Report underscores the Centre's ongoing commitment to improving its dispute resolution processes, expanding its global footprint, and maintaining a diverse and qualified pool of arbitrators and conciliators. With a growing caseload and increasing use of modern technology, ICSID remains a vital institution for fostering international investment and ensuring the respect of legal frameworks in dispute resolution.