​On October 7, 2016, the ICSID Administrative Council held its 50th Annual Meeting in Washington, D.C., in conjunction with the Annual Meetings of the Boards of Governors of the World Bank Group and the International Monetary Fund.

At the meeting, the Administrative Council approved the 2016 ICSID Annual Report and adopted the Annual Budget of ICSID for FY2017.

On the nomination of its Chairman, World Bank Group President Jim Yong Kim, the Administrative Council also elected Mr. Gonzalo Flores and Ms. Martina Polasek as ICSID’s Deputy Secretaries-General.

Mr. Flores, a Chilean national, joined ICSID as Counsel in 1998, became Sr. Counsel in 2003 and Chief Counsel in 2016.  Before joining ICSID, he worked as an attorney in Santiago, Chile where he advised domestic and international clients on corporate and financial matters.  Mr. Flores holds degrees from the University of Chile (LL.B.) and Cornell University (LL.M.). Ms. Polasek, a dual Czech and Swedish national, joined ICSID in 2001 as Counsel.  She became Sr. Counsel in 2009 and Chief Counsel in 2016.  Before joining ICSID, Ms. Polasek worked as an attorney in Paris and Prague focusing on international arbitration and international law. She holds degrees from George Washington University (LL.M.), University of Paris Descartes (D.E.S.S.) and University of Gothenburg (Master of Laws).   

Finally, Member States were advised during the meeting of ICSID’s intention to commence consultations in the next year to consider potential rules amendments. In advance of the Annual Meeting, the Republic of Panama provided a background paper raising the issue of compliance with costs awards in favor of States. ICSID will seek the input of Member States and report on this issue as part of the rules amendment process.

Dr. Jim Yong Kim, World Bank Group President and Chairman of ICSID’s Administrative Council at ICSID’s Administrative Council
Meeting, Washington, D.C. October 7, 2016