International Center for Settlement of Investment Disputes


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International Center for Settlement of Investment Disputes

(ICSID), specialized agency of the United Nations. A member of the World Bank Group (see International Bank for Reconstruction and DevelopmentInternational Bank for Reconstruction and Development (IBRD)
(IBRD), independent specialized agency of the United Nations, with headquarters at Washington, D.C.; one of five closely associated development institutions (also including the International Center for Settlement of
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), it was formed in 1966 and has its headquarters in Washington, D.C. In an effort to help promote increased flows of international investment, ICSID assists in the mediation or conciliation of investment disputes between governments and private foreign investors. Participation in such arbitration is voluntary. Normally the parties are among the agency's 154 member states or citizens of those states, but in special circumstances nonparticipating states or individuals from such states may be accepted as mediating parties. An autonomous international organization, ICSID has close links with the World Bank; it operates through both an administrative council, chaired by the World Bank's president, and a secretariat.
References in periodicals archive ?
The International Center for Settlement of Investment Disputes (ICSID) imposed a penalty of 5.8bn on Pakistan in the Reko Diq case.
ISLAMABAD -- Prime Minister Imran Khan has ordered formation of a commission to investigate into the role of individuals in the Reko Diq case which eventually led to the imposition of $6 billion penalties by The International Center for Settlement of Investment Disputes, said a notification issued by the Attorney General office on Saturday.
In this regard, QICDRC has entered into an agreement with Washington-based International Center for Settlement of Investment Disputes (ICSID), which is considered the world's leading institutions devoted to international investment dispute settlement.
The arbitration case brought by EVN against Bulgaria at the International Center for Settlement of Investment Disputes (ICSID) at the World Bank in Washington is over, writes Capital.
- The International Center for Settlement of Investment Disputes (ICSID), which provides international tribunal mechanisms to arbitrate investment disputes.
The International Center for Settlement of Investment Disputes (ICSID) has already announced that Pakistan is liable to pay the damages and the hearing on the amount has also finished.
In July 2016, SPEx filed another arbitration case in the International Center for Settlement of Investment Disputes against the national government regarding its tax dispute.
The company said on Friday it had filed a lawsuit at the International Center for Settlement of Investment Disputes - an international arbitration institution funded by the World Bank.
Dayyani took the case to the International Center for Settlement of Investment Disputes (ICSID), blaming the Korean government for violating a bilateral investment treaty and demanding the respondent pay 93.5 billion won ($86.9 million).
Prime Minister Shahid Khaqan Abbasi briefed the house in-camera on the implications of the decision of an Arbitration Tribunal of the World Bank's International Center for Settlement of Investment Disputes (ICSID) on the arbitration claims filed by Tethyan Copper Company against Pakistan in relation to the denial of a mining lease for the Reko Diq project.
The World Bank Group comprises five institutions: the World Bank, including the International Bank for Reconstruction and Development (IBRD) and International Development Association (IDA); International Finance Corporation (IFC); Multilateral Investment Guarantee Agency (MIGA); and International Center for Settlement of Investment Disputes (ICSID).
Apart from the case against Piatco, the government also faced an arbitration case filed by Fraport, Piatco's foreign partner, in the International Center for Settlement of Investment Disputes (ICSID), the arbitration arm of the World Bank based in Washington.

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