CIADI - Annual report 2018

2018 Annual Reportfifi·fi· .. fi .. • ··fi • .. - • fifi - . - - - =:-;::::-,- ' fi-, - . ' - • - - .. ;;-a-Letter of Transmittal 1 Message from the Secretary-General 2 ICSID Secretaria t 7 Y ear -in-Review 10 Chap ter 1: Membership 13 Chapter 2: Panels of Arbitrators and of Conciliators 22 Chapter 3: Caseload Trends 25 Chapter 4: Institutional Developments 41 Chap ter 5: Fifty-First Annual Meeting of the Administrative Council 57 Chapter 6: Finance 58 Financial Sta tements 59 Independent A uditor’s Report 72 CONTENTSICSIDii ICSID is one of the five organizations of the World Bank Group, along with the International Bank for Reconstruction and Development (IBRD), the International Development Association (IDA), the International Finance Corporation (IFC), and the Multilateral Investment Guarantee Agency (MIGA). ICSID is unique within the World Bank Group—it is the only non-financial institution—and offers a distinct set of tools to support achieving the Bank’s goals. By offering impartial and effective dispute settlement services, ICSID helps to strengthen investment climates and make international investment more secure. This contributes to the World Bank’s efforts to maximize finance for development by encouraging private investment and stable investment climates. ICSID collaborates with the other World Bank Group institutions in a number of ways, including the organization of joint conferences, input on investment-related documents, and briefings on trends and developments at the Centre. In 2018, ICSID updated the World Bank Executive Directors on its rules amendment process, and also coordinated with World Bank country offices to ensure staff across the institution are aware of ICSID’s dispute resolution services. ICSID and the World Bank Group The International Centre for Settlement of Investment Disputes facilitates foreign investment by providing a multilaterallyagreed system

institution are aware of ICSID’s dispute resolution services. ICSID and the World Bank Group The International Centre for Settlement of Investment Disputes facilitates foreign investment by providing a multilaterallyagreed system for dispute settlement. The International Bank for Reconstruction and Development lends to governments of middle-income and creditworthy lowincome countries. The International Development Association provides interestfree loans — called credits — and grants to governments of the poorest countries. The International Finance Corporation helps developing countries achieve sustainable growth by financing investment, mobilizing capital in international financial markets, and providing advisory services to businesses and governments. The Multilateral Investment Guarantee Agency promotes foreign direct investment into developing countries by offering political risk insurance (guarantees) to investors and lenders.2018 ANNUAL REPORT 1 September 6, 2018 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, 2017 to June 30, 2018. The Report includes the audited financial statements of the Centre, presented pursuant to Administrative and Financial Regulation 19. Your s sincerely, Meg Kinnear Secr etary-General Dr. Jim Yong Kim Chairman Administrative Council International Centre for Settlement of Investment Disputes

INTERNATIONAL CENTRE FOR

SETTLEMENT OF

INVESTMENT DISPUTESICSID

2 The World Bank Group leads the global effort to end extreme poverty and boost shared prosperity. Central to meeting these goals is Maximizing Finance for Development, an

Administrative Council International Centre for Settlement of Investment Disputes

INTERNATIONAL CENTRE FOR

SETTLEMENT OF

INVESTMENT DISPUTESICSID

2 The World Bank Group leads the global effort to end extreme poverty and boost shared prosperity. Central to meeting these goals is Maximizing Finance for Development, an approach that seeks to systematically leverage all sources of finance, expertise, and innovation to support sustainable growth. ICSID plays a unique role in implementing this strategy by offering a forum for impartial and effective resolution of disputes between foreign investors and the host States in which they invest. Indeed, creating an environment that is conducive to foreign investment was the primary motivation for the formation of ICSID in 1966, and that role remains as vital as ever today. Over more than five decades, ICSID has firmly established itself as the facility of choice for investor-State dispute settlement, having administered more than 70% of all known cases. Demand for the Centre’s services continues to increase, demonstrating the importance of its role. In FY2018 ICSID registered 57 new cases, the highest number in ICSID’s history. A full analysis of the cases is published in the ICSID Caseload — Statistics every six months and is summarized in Chapter 3 of this report. Another indicator of the important role played by ICSID is the continuing growth in membership. In January 2018, the United Mexican States signed the ICSID Convention, making it the 162nd State to do so. Member States serve a number of functions that are vital to the success of ICSID. One of these is designating individuals to the ICSID Panels of Arbitrators and of Conciliators, ensuring that there is an expert and diverse group of candidates to serve on tribunals, commissions and committees. In FY2018, Member States designated 102 individuals from 22 countries to the ICSID Panels. These designations complement the work of the Secretariat in promoting a diverse and highly qualified pool of available arbitrators and conciliators. The results of these efforts are evident in the substantial progress that has

commissions and committees. In FY2018, Member States designated 102 individuals from 22 countries to the ICSID Panels. These designations complement the work of the Secretariat in promoting a diverse and highly qualified pool of available arbitrators and conciliators. The results of these efforts are evident in the substantial progress that has been made in diversifying the appointees to tribunals, annulment committees and conciliation commissions, and in particular the number of female appointees and

MEG KINNEAR

ICSID Secretary-General

MESSAGE FROM THE

SECRETARY-GENERAL2018 ANNUAL REPORT 3 appointees from different regions. The steps taken by ICSID to improve gender diversity are profiled on pages 48–49 of this report. ICSID has offered its Member States and the public substantial technical assistance and training in dispute prevention, dispute readiness, and arbitration in the last decade. In 2018, courses were given in more than 10 countries, including in China, Israel, Haiti and Guyana. ICSID also increased mediation training to meet the growing interest of States and investors in alternative dispute resolution mechanisms. We held a 3-day training course for mediators in investor-State disputes in May 2018, as well as a series of events to raise awareness of mediation as an option for international investment dispute settlement at ICSID. In the past year ICSID has also been an active participant in discussions on the evolution of investment dispute settlement mechanisms. This dialogue is taking place in various States, in intergovernmental institutions such as UNCTAD, UNCITRAL, and the OECD, and in a range of public fora. We share the goal of ensuring that the international system of investment dispute settlement continues to enhance investment promotion and sustainable development. One concrete example of these efforts is the selection of ICSID as an administrative registry in investment chapters of recent free trade agreements. We are very pleased that ICSID has been named as the Secretariat for the investment dispute settlement mechanisms in the recent agreements between the European Union, and Canada, Mexico and Singapore, respectively, and look forward to supporting other States in such endeavors. ICSID

of recent free trade agreements. We are very pleased that ICSID has been named as the Secretariat for the investment dispute settlement mechanisms in the recent agreements between the European Union, and Canada, Mexico and Singapore, respectively, and look forward to supporting other States in such endeavors. ICSID has also increasingly been named as the appointing authority in investment treaties, reflecting the confidence that States have in the Centre to name qualified, diverse and impartial adjudicators for international disputes. The most extensive work on reform of investor-State dispute settlement has been ongoing within ICSID over the past year. In 2017–18, ICSID held wide-ranging consultations on potential amendments to its rules of procedure for conciliation, arbitration and fact-finding in investment disputes. ICSID released a working paper in August 2018 with comprehensive rule amendment proposals. The working paper isICSID 4 available on the ICSID website and comments are encouraged from all interested persons and organizations. We are consulting with stakeholders on these proposals over the fall of 2018, with the goal of submitting a package of reforms to the ICSID Administrative Council in October 2019 or 2020. The enthusiasm, participation and collaboration of Member States, counsel, arbitrators, academics and the public in this project has been heartening, and we believe these proposals will be an important contribution to the future of our discipline. Finally, I would like to acknowledge the hard work, collegiality, and skill of the staff at the ICSID Secretariat. I am honoured to work with such a wonderful group of people, and their spirit and dedication allows us to achieve new goals every year. I am grateful as well to the Chairman of the Administrative Council, Dr. Jim Yong Kim, for his support in the past year. I would also like to thank Member States for their continued confidence in ICSID. We know that dispute settlement is a key pillar in the rules-based system that has underpinned the remarkable growth in foreign investment in recent decades, and we will continue our work as the premier institution administering these important cases in the decades ahead.

I would also like to thank Member States for their continued confidence in ICSID. We know that dispute settlement is a key pillar in the rules-based system that has underpinned the remarkable growth in foreign investment in recent decades, and we will continue our work as the premier institution administering these important cases in the decades ahead. Meg Kinnear Secretary-General We share the goal of ensuring that the international system of investment dispute settlement continues to enhance investment promotion and sustainable development.2018 ANNUAL REPORT 5 ICSID serves a critical role in mobilizing private finance for development. As the world’s most trusted venue for settling investment disputes, ICSID gives investors more confidence to venture into markets and bring the capital, technology, and ideas necessary to ensure sustainable and inclusive growth. Along with IBRD, IDA, IFC, and MIGA, ICSID enables the World Bank Group to support our client countries to achieve our mission of ending extreme poverty and promoting shared prosperity. —Jim Yong Kim, President, World Bank GroupICSID 6 Staff of the ICSID Secretariat, Washington, D.C. © Franz Rudolph Mahr, World Bank2018 ANNUAL REPORT 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 an administration and financial management team. As at June 30, 2018, the Secretariat consisted of 67 staff members from 29 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

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, Czech, Finnish, German, Hebrew, Hungarian, Italian, Japanese, Kinyarwanda, Kirundi, Mandarin, Polish, Russian, Swedish, T agalog, Wolof and Yoruba. Since 2016, ICSID has welcomed more than two dozen interns from Algeria, Canada, Chile, China, Croatia, Cuba, France, Hong Kong, India, Ireland, Republic of Korea, Lebanon, Morocco, Nigeria, Pakistan, Peru, Singapore, Switzerland, the United States of America, and Venezuela. ICSID is proud to announce that the 2018 summer semester has produced the largest intern class to date with eight interns assisting on dispute settlement cases and institutional projects.

ICSID SECRETARIAT

67 ICSID staff members from 29 countries fluent in 23 languagesICSID8 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 Natalí Sequeira Frauke Nitschke Mairée Uran Bidegain Legal Counsel Francisco Abriani Alex B. Kaplan Laura Bergamini Catherine Kettlewell Ana Conover Alicia Martín Blanco Mercedes Cordido-Freytes de Kurowski Sara Marzal Aïssatou Diop Jara Mínguez Almeida Geraldine Fischer Marco Tulio Montañés-Rumayor Anneliese Fleckenstein Marisa Planells-Valero Benjamin Garel Ella Rosenberg Lindsay Gastrell Celeste Salinas Quero Francisco J. Grob D. Luisa Fernanda T orres Anna Holloway Legal Counsel—

Anneliese Fleckenstein Marisa Planells-Valero Benjamin Garel Ella Rosenberg Lindsay Gastrell Celeste Salinas Quero Francisco J. Grob D. Luisa Fernanda T orres Anna Holloway Legal Counsel— Institutional Matters Daniela Argüello Otylia Babiak Randi Ayman

PARALEGAL, ADMINISTRATIVE AND CLIENT SUPPORT STAFF

Paralegal Geraldine Alonso Ghersi Ekaterina Minina Jacqueline Argueta Phoebe Ngan Joy Berry Céline Pommier Anna Devine Federico Salon Kajganich Colleen Ferguson Francisco Sanchez Ivania Fernández Elizabeth Starkey Ayling Kocchiu

SECRETARIAT STAFF AS OF JUNE 30, 20182018 ANNUAL REPORT 9

Legal Assistan t Alix Ahimon Drak e Palmer Starling Paula Car azo Mayr a A. Román Dante H errera Guzman Stuti Sood Lanny Isimbi Alex ander Vázquez Jennif er Ann Melendez Administr ative Assistant to Secr etary-General Cindy Ayen to Progr am Assistant Anita Chen

FINANCIAL AND

GENERAL ADMINISTRATION STAFF

T eam L eader/Sr. Program Officer Ja vier Castro Financial Officer Azeb Debebe M engistu

Financial Analyst Walter Meza-Cuadra Cynthia Nyaor o Hearings & E vents Organizer Lamiss AlT ashi Hearings & E vents Organiz er Assistant Diana Magalona Communications Officer Damon Vis Dunbar Sr . Information T echnology Assistan t Patricia V . Romero Progr am Assistant Sherri Akanni

Recep tionist Adjoa Ape te Recor ds Assistant Sebastian M artinelICSID10 In FY2018, ICSID concluded facilities cooperation agreements with the British Virgin Islands International Arbitration Centre and the Shenzhen Court of International Arbitration.

tionist Adjoa Ape te Recor ds Assistant Sebastian M artinelICSID10 In FY2018, ICSID concluded facilities cooperation agreements with the British Virgin Islands International Arbitration Centre and the Shenzhen Court of International Arbitration. ICSID has 19 such agreements with arbitral institutions around the world. The ICSID Review— the Centre’s flagship journal— published 33 articles by 50 authors in FY2018. 143 individuals from 42 nationalities were appointed to serve as arbitrators, conciliators or ad hoc committee members in ICSID cases. ICSID administered 279 cases in FY2018, the greatest number of cases ever administered in a single year.

YEAR-IN-REVIEW2018 ANNUAL REPORT 11

In FY2018, ICSID registered 57 new cases and concluded 46 cases. ICSID Tribunals rendered 25 awards. By the fiscal year-end, a total of 676 cases had been registered at ICSID since its establishment. 22 ICSID contracting States made 102 designations or re-designations to the ICSID Panels of Arbitrators and of Conciliators by fiscal year-end. Overall, 664 individuals have been appointed to the ICSID Panels. The ICSID Secretariat gave more than 50 presentations and training courses around the world. In January 2018, Mexico became the 162nd State to sign the ICSID Convention. A total of 153 States had ratified the ICSID Convention as of June 30, 2018.ICSID 12 The United Mexican States’ Secretary of the Economy, Ildefonso Guajardo Villarreal, signs the ICSID Convention.

© ICSID2018 ANNUAL REPORT

13

153 States had ratified the ICSID Convention as of June 30, 2018.ICSID 12 The United Mexican States’ Secretary of the Economy, Ildefonso Guajardo Villarreal, signs the ICSID Convention.

© ICSID2018 ANNUAL REPORT

13 ICSID is an intergovernmental organization established by the Convention on the Settlement of Investment Disputes between States and Nationals of Other States. By the end of FY2018, ICSID counted 162 signatories to the ICSID Convention, of which 153 are Contracting States to the Convention. On January 11, 2018, Mexico became the most recent country to sign the Convention, and upon its ratification, ICSID will have 154 Contracting States. Membership in ICSID matters for a number of reasons. Member States: — Contribute to the Centre’s governance through equal representation on the Administrative Council. The Administrative Council adopts ICSID’s annual budget, elects the Secretary-General and Deputy Secretaries-General, and approves the annual report. — Have the right to propose and vote on amendments to the ICSID Convention and rules. This is important not only for the conduct of ICSID arbitrations and conciliations—as the global leader in investment dispute settlement, the ICSID rules also influence those of regional and domestic arbitration institutions. — Designate the members of the ICSID Panels of Arbitrators and of Conciliators from which adjudicators can be drawn in ICSID cases. This gives States a vital role in ensuring the quality and diversity of these panels. — Create a world-wide network of courts for enforcement of ICSID Convention awards through designations pursuant to Article 54 of the Convention. This ensures a very high level of compliance with ICSID awards, giving States and investors confidence in the system. — Develop expertise in international investment dispute settlement through participation in presentations and training courses for government officials provided around the world by the ICSID Secretariat.

MEMBERSHIP

Chapter 1 Joining ICSID signals a State’s intent to

in the system. — Develop expertise in international investment dispute settlement through participation in presentations and training courses for government officials provided around the world by the ICSID Secretariat.

MEMBERSHIP

Chapter 1 Joining ICSID signals a State’s intent to encourage foreign direct investment and foster a stable investment climate.ICSID 14 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. Contracting States to the ICSID Convention Signatory States to the ICSID Convention2018 ANNUAL REPORT 15

IBRD 39525

JUNE 30, 2018ICSID16

The 162 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 of deposit and the entry into force of the Convention for each of them.

STATE SIGNATURE DEPOSIT OF

RATIFICATION

ENTRY INTO FORCE 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 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

LIST OF CONTRACTING STATES AND OTHER SIGNATORIES OF THE CONVENTION

AS OF JUNE 30, 20182018 ANNUAL REPORT 17

STATE SIGNATURE DEPOSIT OF

RATIFICATION

ENTRY INTO FORCE OF CONVENTION 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 Greece Mar. 16, 1966 Apr. 21, 1969 May 21, 1969 Grenada May 24, 1991 May 24, 1991 June 23, 1991STATE SIGNATURE DEPOSIT OF

RATIFICATION

ENTRY INTO FORCE OF CONVENTION 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

ICSID18STATE SIGNATURE DEPOSIT OF

RATIFICATION

ENTRY INTO FORCE OF CONVENTION Madagascar June 1, 1966 Sep. 6, 1966 Oct. 14, 1966

ICSID18STATE SIGNATURE DEPOSIT OF

RATIFICATION

ENTRY INTO FORCE OF CONVENTION 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 Mexico Jan. 11, 2018 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 April 12, 2016 April 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

2018 ANNUAL REPORT 19STATE SIGNATURE DEPOSIT OF

RATIFICATION

ENTRY INTO FORCE OF CONVENTION 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 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

ICSID202018 ANNUAL REPORT 21

STATE SIGNATURE DEPOSIT OF

RATIFICATION

ENTRY INTO FORCE OF CONVENTION Sudan Mar. 15, 1967 Apr. 9, 1973 May 9, 1973

Swaziland Nov. 3, 1970 June 14, 1971 July 14, 1971 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 T ogo Jan. 24, 1966 Aug. 11, 1967 Sep. 10, 1967 T onga May 1, 1989 Mar. 21, 1990 Apr. 20, 1990

Trinidad 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, 1994ICSID 22 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 non-nationals of the designating State and are nominated for a renewable term of six years. In addition, up to 10 persons may be designated to each Panel by the Chairman

entitled to designate up to four persons to each Panel. The designees may be nationals or non-nationals of the designating State and are nominated for a renewable term of six years. In addition, up to 10 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