October 25, 2024: ICSID has released its 2024 Annual Report featuring an in-depth look at the Centre's activities over the past fiscal year (July 1, 2023 - June 30, 2024).
Earlier today, the ICSID Administrative Council approved the Annual Report and ICSID’s Administrative Budget for FY2025 at its 58th Annual Meeting in Washington, D.C. The Administrative Council convenes annually at the Annual Meetings of the Boards of Governors of the Wo
rld Bank Group and the International Monetary Fund.
In her final annual report as Secretary-General, Meg Kinnear reflected on her 15 years at ICSID. “ICSID has grown in every respect over that period, and I am very proud of what we have accomplished together,” she writes in her opening message.
Martina Polasek, who was elected ICSID Secretary-General earlier this year, started her term on July 1, 2024.
"I would like to thank our Member State representatives, clients, and ICSID colleagues for their support as I have taken on this new role. I look forward to working with you in the year ahead and reporting back on further progress," she said in her message.
The Annual Report provides a detailed look into the ICSID caseload during the fiscal year. Highlights include:
- A total of 341 ICSID cases were administered in FY2024, which is the second largest number of cases ever administered at ICSID in a single fiscal year. In addition, ICSID administered 17 cases under UNCITRAL and other non-ICSID rules.
- 58 new cases were registered under ICSID’s procedural rules.
- 88 cases were concluded, a record that reflects ICSID’s commitment to time and cost efficiency.
- A record 49 nationalities were represented amongst the appointments made in FY2024.
The Annual Report also provides updates on ICSID's membership and designations to the ICSID Panels of Arbitrators and of Conciliators. Key developments include:
- On June 13, 2024, the Republic of Equatorial Guinea became the latest State to sign the ICSID Convention. By the end of FY2024, 166 States had signed the ICSID Convention, of which 158 had become contracting States.
- 21 ICSID Member States nominated 74 individuals to ICSID’s Panels of Arbitrators and of Conciliators. In addition, Ajay Banga, President of the World Bank Group and Chair of the ICSID Administrative Council, designated 10 persons to each of the Panels.
As in previous years, the Annual Report features:
- An overview of ICSID’s extensive outreach and training activities
- Statements on the Centre's revenue and expenses