CIADI - Annual report 2017

ANNUAL REPORT 2017 i

2017

ANNUAL

REPORT

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EMAIL ICSIDsecretariat@worldbank.org WEBSITE www.worldbank.org/icsidii ICSID 2017

ANNUAL

REPOR T2017

ANNUAL

REPOR TDiez Texturas, Ten Textures (1998) by Maricruz Arribas, The World Bank Art Collection, Art Program 462089, Washington, D.C., June 30, 2017, Photo by Otylia Babiak, World BankLetter of T ransmittal 1 For eword 3 ICSID Secretariat 7 Highlights of FY2017 10 Chapt er 1: Membership 13 Chapt er 2: Panels of Arbitrators and of Conciliators 23 Chapt er 3: Operations of the Centre 26 C hapter 4: Outreach 51 C hapter 5: Fiftieth Annual Meeting of the Administrative Council 70 C hapter 6: Finance 73 Financial Stat ements 74 Independent A uditors’ Report 87 CONTENTSWorld Bank Group Headquarters, Washington, D.C., June 30, 2017, Otylia Babiak, World Bank --ANNUAL REPORT 2017 1 September 6, 2017 Dear Mr. Chairman, I am pleased to submit the Annual Report on the operation of the International Centre for Settlement of Investment Disputes for approval by the Administrative Council. This Annual Report covers the fiscal year from July 1, 2016 to June 30, 2017. The Report includes the audited financial statements of the Centre, presented pursuant to Administrative and Financial Regulation 19. Y ours sincerely, Meg Kinnear Secretary-General Dr. Jim Y ong Kim Chairman Administrative Council International Centre for Settlement of Investment Disputes

The Report includes the audited financial statements of the Centre, presented pursuant to Administrative and Financial Regulation 19. Y ours sincerely, Meg Kinnear Secretary-General Dr. Jim Y ong Kim Chairman Administrative Council International Centre for Settlement of Investment Disputes

INTERNATIONAL CENTRE FOR SETTLEMENT

OF INVESTMENT DISPUTES2 ICSID

IMF/World Bank Annual Meetings, Washington D.C., October 8, 2014, Simone D. McCourtie, World BankANNUAL REPORT 2017 3 ICSID celebrated its 50th year of operation in 2016. This milestone was an opportunity to reflect on the foresight and innovation of Member States in designing the ICSID Convention. The Convention and the Centre it established have been a remarkable success in a relatively short time, and are a testament to the demonstrated need for such a facility in an era of increasing cross-border trade and investment. T oday, ICSID is the acknowledged world leader in investor-State dispute settlement. It has administered more than 70% of all known international investment proceedings. Over the past year alone, ICSID administered 258 cases, the most in any single year of its history. These cases are administered in every region of the world, and are decided by a diverse international group of specialist arbitrators, conciliators and ad hoc committee members. ICSID’s case administration is complemented by its leading role in training parties about international investment dispute settlement and in publishing cutting-edge legal scholarship on developments in the field. This systemic perspective enhances ICSID’s ability not only to provide the most effective administrative service, but also to envision and implement continuous improvement of investment dispute settlement. A few examples of recent initiatives demonstrate the drive for innovation. In the past year ICSID translated its comprehensive website into the three official languages of the Centre (English, French and Spanish). The Centre inaugurated a trilingual newsletter that

FOREWORD

MEG KINNEAR ICSID Secretary-General4 ICSID updates readers on significant recent cases, provides practice guidance on dispute settlement

website into the three official languages of the Centre (English, French and Spanish). The Centre inaugurated a trilingual newsletter that

FOREWORD

MEG KINNEAR ICSID Secretary-General4 ICSID updates readers on significant recent cases, provides practice guidance on dispute settlement techniques, and reports on training and other activity at the Centre. ICSID has also designed a registry service for States to simplify the administration of disputes under individual investment agreements. The first example of this will be pursuant to the Comprehensive Economic and T rade Agreement between Canada and the European Union where ICSID will act as the registry for the dispute settlement mechanism established by the investment chapter in that treaty. ICSID offers this registry service to other States to support their treaty obligations, lending cost-effectiveness, consistency, transparency and expertise to the process. ICSID has added two facilities cooperation agreements over the past year, furthering its ability to offer service in every region of the world. At the same time, ICSID has improved its facilities in Paris and Washington, D.C. The Paris Centre was renovated in 2016-2017, upgrading technology and providing an additional hearing room. Planning is currently underway for ICSID to move to new quarters in Washington, D.C. in 2018, where it will have modern hearing rooms co-located with the Secretariat’s offices. We also restructured the Secretariat’s organization this year with the Administrative Council electing two Deputy Secretaries-General. T oday ICSID has more than 65 staff in case teams, an administration and finance team and a front office team. The expertise and dedication of the ICSID staff explain the Centre’s success, and I thank them for being such wonderful colleagues and supporting our mission whole-heartedly. In the upcoming year ICSID will address further modernization of the ICSID rules. ICSID announced the commencement of this process during the October 2016 Annual Meeting of the ICSID Administrative Council. Subsequently it has canvassed all Member States for suggestions as to potential rule amendments and has received suggestions and feedback on this process

announced the commencement of this process during the October 2016 Annual Meeting of the ICSID Administrative Council. Subsequently it has canvassed all Member States for suggestions as to potential rule amendments and has received suggestions and feedback on this process from an engaged group of State officials. At the same time, ICSID welcomed public suggestions on potential amendments, which are published on a dedicated webpage. Over 2017-2018, ICSID will release background papers on potential amendments and undertake consultations with stakeholders to determine the direction of an amendment package that ultimately will be submitted to the Administrative Council for approval. This offers an exciting opportunity to continue to develop the investment dispute settlement process to better serve States and investors alike.ANNUAL REPORT 2017 5 “ Today , ICSID is the acknowledged world leader in investor -State dispute settlement. It has administered more than 70% of all known international investment proceedings. Over the past year alone, ICSID administered 258 cases, the most in any single year of its history . Finally, I would like to thank the ICSID Member States and facility users for their continued confidence in the Centre. T ogether we contribute to the promotion of stable investment climates where citizens can share in global prosperity. ICSID is honored to contribute to fulfilling this mission and will support it through the effective and peaceful resolution of disputes. Meg Kinnear Secretary-General6 ICSID ICSID Headquarters, Washington, D.C., June 30, 2017, Otylia Babiak, World BankANNUAL REPORT 2017 7 The ICSID Secretariat carries out the day-to-day operations of the Centre. Its composition and principle functions are set out in the ICSID Convention (Articles 9 to 11) and the Administrative and Financial Regulations. The ICSID Secretariat is led by the SecretaryGeneral, who is assisted by two Deputy Secretaries-General. The staff are organized into a front office team, four case management teams and a general administration and financial management team.

ICSID Convention (Articles 9 to 11) and the Administrative and Financial Regulations. The ICSID Secretariat is led by the SecretaryGeneral, who is assisted by two Deputy Secretaries-General. The staff are organized into a front office team, four case management teams and a general administration and financial management team. As at June 30, 2017, the Secretariat consisted of 66 staff members from 26 countries, making it one of the most diverse organizations within the World Bank Group. Most ICSID staff are fluent in two or all three of the Centre’s official languages (English, French and Spanish), and collectively ICSID staff are fluent in 23 other languages, including Akan, Amharic, Arabic, Bulgarian, Cantonese, Czech, Finnish, German, Greek, Hebrew, Hungarian, Italian, Japanese, Kirundi, Kinyarwanda, Mandarin, Polish, Russian, Swahili, Swedish, T agalog, Wolof and Y oruba. During FY2017, ICSID welcomed two externs, a Fulbright Scholar from Pakistan and a dual JD student from China, and over a dozen interns from Algeria, Canada, China, France, India, Ireland, the Republic of Korea, Morocco, Nigeria, Peru, and the United States to assist on dispute settlement cases and institutional projects.

ICSID SECRETARIATSECRETARIAT STAFF AS OF JUNE 30, 2017

Secretary-General Meg Kinnear Deputy Secretary-General Gonzalo Flores Martina Polasek

LEGAL STAFF

Senior Legal Adviser Aurélia Antonietti Milanka Kostadinova T eam Leader/Legal Counsel Paul-Jean Le Cannu Frauke Nitschke Natalí Sequeira Mairée Uran Bidegain Legal Counsel Francisco Abriani Laura Bergamini Ana Conover Mercedes Cordido-Freytes de Kurowski Aïssatou Diop Geraldine Fischer Anneliese Fleckenstein Benjamin Garel Lindsay Gastrell Francisco Grob D. Anna Holloway

Francisco Abriani Laura Bergamini Ana Conover Mercedes Cordido-Freytes de Kurowski Aïssatou Diop Geraldine Fischer Anneliese Fleckenstein Benjamin Garel Lindsay Gastrell Francisco Grob D. Anna Holloway Alex B. Kaplan Alicia Martín Blanco Sara Marzal Y etano Jara Mínguez Almeida Marco T ulio MontañésRumayor Celeste Mowatt Marisa Planells-Valero Ella Rosenberg Luisa Fernanda T orres Legal Counsel— Institutional Matters Daniela Argüello Randi Ayman Otylia Babiak Chrysoula Mavromati

PARALEGAL,

ADMINISTRATIVE AND

CLIENT SUPPORT STAFF

Paralegal Geraldine Alonso Ghersi Joy Berry Arkiatou Boissaye Colleen Ferguson Ivania Fernández Nicholas Grant Maisel Valérie Locoh-Donou Phoebe Ngan Nayib Rivera Francisco Sánchez Elizabeth Starkey Legal Assistant Alix Ahimon Alejandra Bobadilla Paula Carazo Cinthya Ibáñez Lanny Isimbi Ayling Kocchiu Jennifer Ann Melendez Erika Nyman Drake Palmer Starling Alexander Vázquez Administrative Assistant to Secretary-General Cindy Ayento Program Assistant Anita Chen

FINANCIAL AND GENERAL

ADMINISTRATION STAFF

T eam Leader/Sr. Program Officer Javier Castro Hearings & Events Organizer Lamiss Al-T ashi Financial Analyst Azeb Debebe Mengistu Walter Meza-Cuadra Sr. Information T echnology Assistant Patricia V. Romero Program Assistant Guillermo Acevedo Sherri Akanni Hearings & Events Organizer Assistant Diana Magalona Receptionist Adjoa Apete Records Assistant Dante Herrera Guzman

Sr. Information T echnology Assistant Patricia V. Romero Program Assistant Guillermo Acevedo Sherri Akanni Hearings & Events Organizer Assistant Diana Magalona Receptionist Adjoa Apete Records Assistant Dante Herrera Guzman 8 ICSIDStaff of the ICSID Secretariat, Washington, D.C., June 1, 2017, Franz Rudolph Mahr, World BankANNUAL HIGHLIGHTS

In FY2017, ICSID TRIBUNALS RENDERED A

RECORD OF 32 AWARDS.

ICSID REGISTERED 49 CASES in the fiscal year ending June 30, 2017. THE CENTRE CONCLUDED 56 CASES IN THE PAST YEAR, the highest in ICSID’s history; demonstrating that its efforts to expedite the arbitral process are having an impact on the duration of individual cases. ICSID NOW HAS 17 COOPERATION AGREEMENTS with other international arbitral institutions, with 2 new agreements concluded in FY2017. This complements its capacity to hold hearings anywhere in the world.

In FY2017, ICSID ADMINISTERED 9 INVESTORSTATE ARBITRATIONS under the UNCITRAL Rules.

THE ICSID REVIEW PUBLISHED THREE SPECIAL-FOCUS ISSUES on State-owned enterprises, the intersection of investment arbitration and public international law, and procedural issues in investment treaty arbitration.

THE SECOND ANNUAL ICSID BRIEFING FOR EMBASSY

REPRESENTATIVES was held in Washington, D.C. in September 2016, updating local representatives of ICSID Member States on ICSID proceedings and institutional developments.

10 ICSIDA NUMERIC PROFILE OF ICSID IN FY2017

ANNUAL REPORT 2017 11

MORE THAN 80 PRESENTATIONS WERE GIVEN BY SECRETARIAT STAFF in over 25 countries on 6 continents. This fiscal year, 93 INDIVIDUALS FROM 33 DIFFERENT COUNTRIES of origin were appointed to serve as arbitrators,

ANNUAL REPORT 2017 11

MORE THAN 80 PRESENTATIONS WERE GIVEN BY SECRETARIAT STAFF in over 25 countries on 6 continents. This fiscal year, 93 INDIVIDUALS FROM 33 DIFFERENT COUNTRIES of origin were appointed to serve as arbitrators, conciliators or ad hoc committee members in 57 ICSID cases. At its 50th Anniversary, THE ICSID CONVENTION HAD 153 CONTRACTING STATES and 161 Signatory States. In FY2017, 182 SESSIONS OR HEARINGS WERE HELD. More than half (53%) of all sessions and hearings in FY2017 were conducted by telephone or video conference. ICSID ADMINISTERED 258 CASES in FY2017, the greatest number of cases ever administered in a single year. ICSID’s 600th case overall was registered in January 2017, and 619 CASES HAD BEEN REGISTERED by the fiscal year-end. ICSID HAS A STAFF OF 66 PROFESSIONALS. More than half of ICSID staff are lawyers trained in various civil and common law jurisdictions. Secretariat staff speak 23 languages in addition to the Centre’s official languages, English, French and Spanish. At fiscal year-end, 16 ICSID CONTRACTING STATES MADE 73 DESIGNATIONS OR RE-DESIGNATIONS to the ICSID Panels of Arbitrators and Conciliators. By the end of FY2017, there were 657 individuals on the ICSID Panels.12 ICSID Meg Kinnear, ICSID Secretary-General, with Gonzalo Flores and Martina Polasek, ICSID Deputy Secretaries-General, at a Briefing for World Bank Executive Directors, Washington, D.C., January 30, 2017, Daniela Argüello, World BankANNUAL REPORT 2017 13 ICSID is an intergovernmental organization established by the Convention on the Settlement of Investment Disputes between States and Nationals of Other States. It is the only global arbitration institution offering a specialized forum and rules for international investment

ICSID is an intergovernmental organization established by the Convention on the Settlement of Investment Disputes between States and Nationals of Other States. It is the only global arbitration institution offering a specialized forum and rules for international investment dispute resolution. Consistent with its mandate, ICSID provides a wide range of arbitration and conciliation services and various platforms for information and collaboration in the field of international investment law and arbitration. Membership in ICSID offers numerous benefits to Member States. Each member contributes to the governance of ICSID through equal representation on the Administrative Council.

MEMBERSHIP

CHAPTER 1

By the end of FY2017, ICSID counted 161 signatories to the ICSID Convention, of which 153 are Contracting States to the ICSID Convention.CONTRACTING STATES TO THE ICSID CONVENTION SIGNATORY STATES TO THE ICSID CONVENTION This map was produced by the Cartography Unit of the World Bank Group. The boundaries, colors, denominations and any other information shown on this map do not imply, on the part of the World Bank Group, any judgment on the legal status of any territory, or any endorsement or acceptance of such boundaries.

IBRD 39525 | JUNE 30, 2017

14 ICSIDCONTRACTING STATES TO THE ICSID CONVENTION SIGNATORY STATES TO THE ICSID CONVENTION This map was produced by the Cartography Unit of the World Bank Group. The boundaries, colors, denominations and any other information shown on this map do not imply, on the part of the World Bank Group, any judgment on the legal status of any territory, or any endorsement or acceptance of such boundaries.

IBRD 39525 | JUNE 30, 2017

ANNUAL REPORT 2017 1516 ICSID The 161 States listed below signed the Convention on the Settlement of Investment Disputes between States and Nationals of Other States on the dates indicated. The names of the 153 States that have deposited their instruments of ratification are in bold, with the dates deposit and the

The 161 States listed below signed the Convention on the Settlement of Investment Disputes between States and Nationals of Other States on the dates indicated. The names of the 153 States that have deposited their instruments of ratification are in bold, with the dates deposit and the entry into force of the Convention for each of them. Deposit of Entry into Force State Signature Ratification of Convention Afghanistan Sep. 30, 1966 June 25, 1968 July 25, 1968 Albania Oct. 15, 1991 Oct. 15, 1991 Nov. 14, 1991 Algeria Apr. 17, 1995 Feb. 21, 1996 Mar. 22, 1996 Argentina May 21, 1991 Oct. 19, 1994 Nov. 18, 1994 Armenia Sep. 16, 1992 Sep. 16, 1992 Oct. 16, 1992 Australia Mar. 24, 1975 May 2, 1991 June 1, 1991 Austria May 17, 1966 May 25, 1971 June 24, 1971 Azerbaijan Sep. 18, 1992 Sep. 18, 1992 Oct. 18, 1992 Bahamas, The Oct. 19, 1995 Oct. 19, 1995 Nov. 18, 1995 Bahrain Sep. 22, 1995 Feb. 14, 1996 Mar. 15, 1996 Bangladesh Nov. 20, 1979 Mar. 27, 1980 Apr. 26, 1980 Barbados May 13, 1981 Nov. 1, 1983 Dec. 1, 1983 Belarus July 10, 1992 July 10, 1992 Aug. 9, 1992

Belgium Dec. 15, 1965 Aug. 27, 1970 Sep. 26, 1970 Belize Dec. 19, 1986 Benin Sep. 10, 1965 Sep. 6, 1966 Oct. 14, 1966 Bosnia and Herzegovina Apr. 25, 1997 May 14, 1997 June 13, 1997 Botswana Jan. 15, 1970 Jan. 15, 1970 Feb. 14, 1970 Brunei Darussalam Sep. 16, 2002 Sep. 16, 2002 Oct. 16, 2002 Bulgaria Mar. 21, 2000 Apr. 13, 2001 May 13, 2001 Burkina Faso Sep. 16, 1965 Aug. 29, 1966 Oct. 14, 1966 Burundi Feb. 17, 1967 Nov. 5, 1969 Dec. 5, 1969

LIST OF CONTRACTING STATES AND OTHER SIGNATORIES OF THE CONVENTION AS OF JUNE 30, 2017ANNUAL REPORT 2017 17

Cabo Verde Dec. 20, 2010 Dec. 27, 2010 Jan. 26, 2011 Cambodia Nov. 5, 1993 Dec. 20, 2004 Jan. 19, 2005 Cameroon Sep. 23, 1965 Jan. 3, 1967 Feb. 2, 1967 Canada Dec. 15, 2006 Nov. 1, 2013 Dec. 1, 2013 Central African Republic Aug. 26, 1965 Feb. 23, 1966 Oct. 14, 1966 Chad May 12, 1966 Aug. 29, 1966 Oct. 14, 1966

Chile Jan. 25, 1991 Sep. 24, 1991 Oct. 24, 1991 China Feb. 9, 1990 Jan. 7, 1993 Feb. 6, 1993 Colombia May 18, 1993 July 15, 1997 Aug. 14, 1997 Comoros Sep. 26, 1978 Nov. 7, 1978 Dec. 7, 1978 Congo, Democratic Rep. of Oct. 29, 1968 Apr. 29, 1970 May 29, 1970 Congo, Rep. of Dec. 27, 1965 June 23, 1966 Oct. 14, 1966 Costa Rica Sep. 29, 1981 Apr. 27, 1993 May 27, 1993 Côte d’Ivoire June 30, 1965 Feb. 16, 1966 Oct. 14, 1966 Croatia June 16, 1997 Sep. 22, 1998 Oct. 22, 1998 Cyprus Mar. 9, 1966 Nov. 25, 1966 Dec. 25, 1966 Czech Republic Mar. 23, 1993 Mar. 23, 1993 Apr. 22, 1993 Denmark Oct. 11, 1965 Apr. 24, 1968 May 24, 1968 Dominican Republic Mar. 20, 2000 Egypt, Arab Rep. of Feb. 11, 1972 May 3, 1972 June 2, 1972 El Salvador June 9, 1982 Mar. 6, 1984 Apr. 5, 1984 Estonia June 23, 1992 June 23, 1992 July 23, 1992

Ethiopia Sep. 21, 1965 Fiji July 1, 1977 Aug. 11, 1977 Sep. 10, 1977 Finland July 14, 1967 Jan. 9, 1969 Feb. 8, 1969 France Dec. 22, 1965 Aug. 21, 1967 Sep. 20, 1967 Gabon Sep. 21, 1965 Apr. 4, 1966 Oct. 14, 1966 Gambia, The Oct. 1, 1974 Dec. 27, 1974 Jan. 26, 1975 Georgia Aug. 7, 1992 Aug. 7, 1992 Sep. 6, 1992 Germany Jan. 27, 1966 Apr. 18, 1969 May 18, 1969 Ghana Nov. 26, 1965 July 13, 1966 Oct. 14, 1966 Deposit of Entry into Force State Signature Ratification of Convention18 ICSID Greece Mar. 16, 1966 Apr. 21, 1969 May 21, 1969 Grenada May 24, 1991 May 24, 1991 June 23, 1991 Guatemala Nov. 9, 1995 Jan. 21, 2003 Feb. 20, 2003 Guinea Aug. 27, 1968 Nov. 4, 1968 Dec. 4, 1968 Guinea-Bissau Sep. 4, 1991 Guyana July 3, 1969 July 11, 1969 Aug. 10, 1969 Haiti Jan. 30, 1985 Oct. 27, 2009 Nov. 26, 2009 Honduras May 28, 1986 Feb. 14, 1989 Mar. 16, 1989

Hungary Oct. 1, 1986 Feb. 4, 1987 Mar. 6, 1987 Iceland July 25, 1966 July 25, 1966 Oct. 14, 1966 Indonesia Feb. 16, 1968 Sep. 28, 1968 Oct. 28, 1968 Iraq Nov. 17, 2015 Nov. 17, 2015 Dec. 17, 2015 Ireland Aug. 30, 1966 Apr. 7, 1981 May 7, 1981 Israel June 16, 1980 June 22, 1983 July 22, 1983 Italy Nov. 18, 1965 Mar. 29, 1971 Apr. 28, 1971 Jamaica June 23, 1965 Sep. 9, 1966 Oct. 14, 1966 Japan Sep. 23, 1965 Aug. 17, 1967 Sep. 16, 1967 Jordan July 14, 1972 Oct. 30, 1972 Nov. 29, 1972 Kazakhstan July 23, 1992 Sep. 21, 2000 Oct. 21, 2000 Kenya May 24, 1966 Jan. 3, 1967 Feb. 2, 1967 Korea, Rep. of Apr. 18, 1966 Feb. 21, 1967 Mar. 23, 1967 Kosovo, Rep. of June 29, 2009 June 29, 2009 July 29, 2009 Kuwait Feb. 9, 1978 Feb. 2, 1979 Mar. 4, 1979 Kyrgyz Republic June 9, 1995 Latvia Aug. 8, 1997 Aug. 8, 1997 Sep. 7, 1997

Lebanon Mar. 26, 2003 Mar. 26, 2003 Apr. 25, 2003 Lesotho Sep. 19, 1968 July 8, 1969 Aug. 7, 1969 Liberia Sep. 3, 1965 June 16, 1970 July 16, 1970 Lithuania July 6, 1992 July 6, 1992 Aug. 5, 1992 Luxembourg Sep. 28, 1965 July 30, 1970 Aug. 29, 1970 Macedonia, former Yugoslav Rep. of Sep. 16, 1998 Oct. 27, 1998 Nov. 26, 1998 Deposit of Entry into Force State Signature Ratification of ConventionANNUAL REPORT 2017 19 Madagascar June 1, 1966 Sep. 6, 1966 Oct. 14, 1966 Malawi June 9, 1966 Aug. 23, 1966 Oct. 14, 1966 Malaysia Oct. 22, 1965 Aug. 8, 1966 Oct. 14, 1966 Mali Apr. 9, 1976 Jan. 3, 1978 Feb. 2, 1978 Malta Apr. 24, 2002 Nov. 3, 2003 Dec. 3, 2003 Mauritania July 30, 1965 Jan. 11, 1966 Oct. 14, 1966 Mauritius June 2, 1969 June 2, 1969 July 2, 1969 Micronesia, Federated States of June 24, 1993 June 24, 1993 July 24, 1993

Moldova Aug. 12, 1992 May 5, 2011 June 4, 2011 Mongolia June 14, 1991 June 14, 1991 July 14, 1991 Montenegro July 19, 2012 April 10, 2013 May 10, 2013 Morocco Oct. 11, 1965 May 11, 1967 June 10, 1967 Mozambique Apr. 4, 1995 June 7, 1995 July 7, 1995 Namibia Oct. 26, 1998 Nauru Apr. 12, 2016 Apr. 12, 2016 May 12, 2016 Nepal Sep. 28, 1965 Jan. 7, 1969 Feb. 6, 1969 Netherlands May 25, 1966 Sep. 14, 1966 Oct. 14, 1966 New Zealand Sep. 2, 1970 Apr. 2, 1980 May 2, 1980 Nicaragua Feb. 4, 1994 Mar. 20, 1995 Apr. 19, 1995 Niger Aug. 23, 1965 Nov. 14, 1966 Dec. 14, 1966 Nigeria July 13, 1965 Aug. 23, 1965 Oct. 14, 1966 Norway June 24, 1966 Aug. 16, 1967 Sep. 15, 1967 Oman May 5, 1995 July 24, 1995 Aug. 23, 1995 Pakistan July 6, 1965 Sep. 15, 1966 Oct. 15, 1966 Panama Nov. 22, 1995 Apr. 8, 1996 May 8, 1996

Papua New Guinea Oct. 20, 1978 Oct. 20, 1978 Nov. 19, 1978 Paraguay July 27, 1981 Jan. 7, 1983 Feb. 6, 1983 Peru Sep. 4, 1991 Aug. 9, 1993 Sep. 8, 1993 Philippines Sep. 26, 1978 Nov. 17, 1978 Dec. 17, 1978 Portugal Aug. 4, 1983 July 2, 1984 Aug. 1, 1984 Qatar Sep. 30, 2010 Dec. 21, 2010 Jan. 20, 2011 Romania Sep. 6, 1974 Sep. 12, 1975 Oct. 12, 1975 Deposit of Entry into Force State Signature Ratification of Convention20 ICSID Russian Federation June 16, 1992 Rwanda Apr. 21, 1978 Oct. 15, 1979 Nov. 14, 1979 Samoa Feb. 3, 1978 Apr. 25, 1978 May 25, 1978 San Marino Apr. 11, 2014 Apr. 18, 2015 May 18, 2015 Sao T ome and Principe Oct. 1, 1999 May 20, 2013 June 19, 2013 Saudi Arabia Sep. 28, 1979 May 8, 1980 June 7, 1980 Senegal Sep. 26, 1966 Apr. 21, 1967 May 21, 1967 Serbia May 9, 2007 May 9, 2007 June 8, 2007 Seychelles Feb. 16, 1978 Mar. 20, 1978 Apr. 19, 1978

Sierra Leone Sep. 27, 1965 Aug. 2, 1966 Oct. 14, 1966 Singapore Feb. 2, 1968 Oct. 14, 1968 Nov. 13, 1968 Slovak Republic Sep. 27, 1993 May 27, 1994 June 26, 1994 Slovenia Mar. 7, 1994 Mar. 7, 1994 Apr. 6, 1994 Solomon Islands Nov. 12, 1979 Sep. 8, 1981 Oct. 8, 1981 Somalia Sep. 27, 1965 Feb. 29, 1968 Mar. 30, 1968 South Sudan Apr. 18, 2012 Apr. 18, 2012 May 18, 2012 Spain Mar. 21, 1994 Aug. 18, 1994 Sept. 17, 1994 Sri Lanka Aug. 30, 1967 Oct. 12, 1967 Nov. 11, 1967 St. Kitts & Nevis Oct. 14, 1994 Aug. 4, 1995 Sep. 3, 1995 St. Lucia June 4, 1984 June 4, 1984 July 4, 1984 St. Vincent and the Grenadines Aug. 7, 2001 Dec. 16, 2002 Jan. 15, 2003 Sudan Mar. 15, 1967 Apr. 9, 1973 May 9, 1973 Swaziland Nov. 3, 1970 June 14, 1971 July 14, 1971 Deposit of Entry into Force State Signature Ratification of ConventionANNUAL REPORT 2017 21 Sweden Sep. 25, 1965 Dec. 29, 1966 Jan. 28, 1967

Switzerland Sep. 22, 1967 May 15, 1968 June 14, 1968 Syria May 25, 2005 Jan. 25, 2006 Feb. 24, 2006 T anzania Jan. 10, 1992 May 18, 1992 June 17, 1992 Thailand Dec. 6, 1985 Timor-Leste July 23, 2002 July 23, 2002 Aug. 22, 2002 To g o Jan. 24, 1966 Aug. 11, 1967 Sep. 10, 1967 T onga May 1, 1989 Mar. 21, 1990 Apr. 20, 1990 T rinidad and T obago Oct. 5, 1966 Jan. 3, 1967 Feb. 2, 1967 T unisia May 5, 1965 June 22, 1966 Oct. 14, 1966 T urkey June 24, 1987 Mar. 3, 1989 Apr. 2, 1989 T urkmenistan Sep. 26, 1992 Sep. 26, 1992 Oct. 26, 1992 Uganda June 7, 1966 June 7, 1966 Oct. 14, 1966 Ukraine Apr. 3, 1998 June 7, 2000 July 7, 2000 United Arab Emirates Dec. 23, 1981 Dec. 23, 1981 Jan. 22, 1982 United Kingdom of Great Britain and Northern Ireland May 26, 1965 Dec. 19, 1966 Jan. 18, 1967 United States of America Aug. 27, 1965 June 10, 1966 Oct. 14, 1966

Uruguay May 28, 1992 Aug. 9, 2000 Sep. 8, 2000 Uzbekistan Mar. 17, 1994 July 26, 1995 Aug. 25, 1995 Y emen, Republic of Oct. 28, 1997 Oct. 21, 2004 Nov. 20, 2004 Zambia June 17, 1970 June 17, 1970 July 17, 1970 Zimbabwe Mar. 25, 1991 May 20, 1994 June 19, 1994 Deposit of Entry into Force State Signature Ratification of Convention22 ICSID Pierre Mayer, Raëd Fathallah, and Brigitte Stern, Tribunal members and designees to ICSID’s Panel of Arbitrators, and Paul-Jean Le Cannu, ICSID Team Leader/Legal Counsel, at a hearing in Tamagot Bumi S.A. and Bumi Mauritania S.A. v. Islamic Republic of Mauritania, Paris, April 21, 2017, Veronika Korom, Bredin PratANNUAL REPORT 2017 23 The ICSID Convention requires the Centre to maintain a Panel of Arbitrators and a Panel of Conciliators. According to Article 13 of the Convention, each Contracting State is entitled to designate up to four persons to each Panel. The designees may be nationals or nonnationals of the designating State and are nominated for a renewable term of six years. In addition, up to ten persons may be designated to each Panel by the Chairman of the ICSID Administrative Council. The Panels are an important component of the ICSID system of dispute settlement. When the Chairman of the Administrative Council is called upon to appoint arbitrators, conciliators or ad hoc Committee members under Articles 30, 38 or 52 of the ICSID Convention, these appointees are drawn from the Panels. With a growing ICSID caseload, it has become increasingly important for States to make designations to the ICSID Panels.

under Articles 30, 38 or 52 of the ICSID Convention, these appointees are drawn from the Panels. With a growing ICSID caseload, it has become increasingly important for States to make designations to the ICSID Panels. During FY2017, 16 ICSID Contracting States made 73 designations to the ICSID Panels: Algeria, Argentina, Australia, Costa Rica, the Czech Republic, Egypt, Estonia, Lebanon, Macedonia, Nigeria, Paraguay, the Slovak Republic, Somalia, T ogo, the United Arab Emirates, and Uruguay. By the end of FY2017, there were 657 individuals on the ICSID Panels of Arbitrators and of Conciliators. A complete list of ICSID Panel nominees is available in an official ICSID document known as ICSID/10, available on the ICSID website.

PANELS OF ARBITRATORS

AND OF CONCILIATORS

CHAPTER 224 ICSID

ALGERIA

Panel of Arbitrators Designations effective January 18, 2017: Farid Ben Belkacem, Mohamed Chemloul, Ali Haroun, El Oualid Laggoune Panel of Conciliators Designations effective January 18, 2017: Hocine Benissad, Belgacem Boudra, Ahcène Bououden, Mohamed Améziane Baileche ARGENTINA Panels of Arbitrators and of Conciliators Designations effective July 5, 2016: Diego P. Fernández Arroyo, Mario J.A. Oyarzábal, Mónica Pinto, Raúl E. Vinuesa

AUSTRALIA

Panel of Arbitrators Re-designations effective February 2, 2017:

Gavan Griffith, Doug Jones, Michael C. Pryles Panel of Arbitrators Designation effective February 2, 2017: Annabelle Bennett Panel of Conciliators Re-designations effective February 2, 2017: Neil Brown, Ian Hanger Panel of Conciliators Designations effective February 2, 2017: Bronwyn Lincoln, James Spigelman COSTA RICA Panels of Arbitrators and of Conciliators Re-designation effective July 24, 2016: Rodrigo Barahona Israel Panels of Arbitrators and of Conciliators Re-designation effective July 27, 2016: Rodrigo Oreamuno Blanco Panels of Arbitrators and of Conciliators Designations effective July 27, 2016: Dyalá Jiménez Figueres, Alberto Pauly Sáenz

CZECH REPUBLIC

Panel of Arbitrators Designation effective September 30, 2016: Dmitri Evseev EGYPT Panel of Arbitrators Designations effective May 3, 2017: Mohamed Sameh Amr, Karim Hafez, T arek Riad

ESTONIA

Panel of Arbitrators Designations effective February 15, 2017: T riinu Hiob, Pirkka-Marja Põldvere, T omas Vaher Panel of Conciliators Designations effective February 15, 2017: Ilmar-Erik Aavakivi, Leon Glickman

LEBANON

Panel of Conciliators Designations effective September 16, 2016: Bassam Mirza, Marwan Sakr The names of designees to the ICSID Panels made in FY2017 are provided below. In the past five fiscal years, 75 ICSID Contracting States have made 375 designations to the ICSID Panels.ANNUAL REPORT 2017 25 MACEDONIA Panels of Arbitrators and of Conciliators Designations effective December 23, 2016: Stojne Danilova Ivanoski, Vladimir Peshevski

375 designations to the ICSID Panels.ANNUAL REPORT 2017 25 MACEDONIA Panels of Arbitrators and of Conciliators Designations effective December 23, 2016: Stojne Danilova Ivanoski, Vladimir Peshevski Panel of Arbitrators Designations effective December 23, 2016: Danela Arsovska, Alexis Mourre Panel of Conciliators Des