October 14, 2022: ICSID released its 2022 Annual Report today, featuring an in-depth look at the Centre's activities over the past fiscal year (July 1, 2021 - June 30, 2022).
The ICSID Administrative Council approved the 2022 Annual Report and administrative budget for FY2023 at its 56th Annual Meeting in Washington, D.C. The Administrative Council convenes annually at the Annual Meetings of the Boards of Governors of the World Bank Group and the International Monetary Fund.
In addition, the Administrative Council re-elected Gonzalo Flores and Martina Polasek as Deputy Secretaries-General for a further term of 6 years.
“The past year demonstrates how ICSID, and investor-State dispute settlement, are continuously adapting to meet the needs of stakeholders,” writes Meg Kinnear, ICSID Secretary-General, in her opening message.
Of note in the 2022 fiscal year was the adoption of the amended ICSID rules for arbitration, mediation, conciliation, and fact-finding. The updated ICSID rules were developed over a five-year period in consultation with ICSID’s membership and the broader public.
“The 2022 ICSID Rules and Regulations provide States and investors with leading-edge tools to address disputes quickly and definitively,” writes David Malpass, President of the World Bank Group and Chair of the ICSID Administrative Council, in his message. “New expedited procedures reduce case times in half, while enhanced transparency and disclosures strengthen accountability and legal consistency in ICSID caselaw.”
Highlights from the 2022 fiscal year also include:
- 346 cases administered by ICSID, marking the largest number of cases ever administered at ICSID in a single fiscal year.
- A record 77 concluded cases, reflecting ICSID’s ongoing efforts to reduce the time of cases.
- Individuals of 42 nationalities were represented amongst the appointments made in the fiscal year. This is the second largest number of different nationalities appointed in a single year at ICSID.
- 45% of first-time appointees in FY2022 were women and 25% involved nationals of low- or middle-income economies.
- Ecuador and the Kyrgyz Republic deposited their Instrument of Ratification of the ICSID Convention, thus becoming ICSID’s 156th and 157th Member States, respectively.
As in previous years, the ICSID 2022 Annual Report also features:
- A complete list of new designations and re-designations to the ICSID Panels of Arbitrators and of Conciliators
- A detailed report on ICSID’s caseload trends
- An overview of ICSID’s extensive outreach and training activities
- Statements on the Centre's revenue and expenses