01. Annual Reports & Independent Evaluations
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Publication
2019 ICSID Annual Report: Excellence in Investment Dispute Resolution
(Washington, DC: ICSID, 2019-10-18)ICSID is an international facility available to States and foreign investors for the resolution of investment disputes. Established in 1966 by the Convention on the Settlement of Investment Disputes between States and Nationals of Other States (the ICSID Convention), it is the only global institution dedicated to international investment dispute settlement. Through its specialized rules of procedure, world-class facilities, and expert legal and administrative support, ICSID provides unparalleled dispute resolution services to States and investors. Since the first case was registered with ICSID in 1972, the majority of all known international investment disputes have been administered by ICSID. -
Publication
The World Bank Annual Report 2018
(Washington, DC: World Bank, 2018-09-28)The Annual Report is prepared by the Executive Directors of the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA)--collectively known as the World Bank--in accordance with the by-laws of the two institutions. The President of the IBRD and IDA and the Chairman of the Board of Executive Directors submits the Report, together with the accompanying administrative budgets and audited financial statements, to the Board of Governors. -
Publication
The World Bank Annual Report 2014
(Washington, DC, 2014)The Annual Report is prepared by the Executive Directors of the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA)—collectively known as the World Bank—in accordance with the by-laws of the two institutions. The President of the IBRD and IDA and the Chairman of the Board of Executive Directors submits the Report, together with the accompanying administrative budgets and audited financial statements, to the Board of Governors. -
Publication
MIGA Annual Report 2014 : Insuring Investments, Ensuring Opportunities
(Washington, DC: World Bank Group, 2014)In 2014, the World Bank Group adopted a joint strategy for dealing with impediments to ending extreme poverty and boosting shared prosperity. One of the strategy’s key elements underscores the essential role private sector investment can play working alongside public sector support to bear down on the most challenging development issues client countries face, such as job creation, infrastructure deficits, and climate change. MIGA’s role has become increasingly valuable in delivering results to achieve these twin goals as demonstrated by the increased demand for our political risk insurance and credit enhancement products that facilitate the expansion of private investment into emerging markets. In fiscal year 2014, MIGA issued a record $3.2 billion in new guarantees while our gross exposure reached $12.4 billion. MIGA’s added value stems from our ability to mobilize private sector investment in environments that are often beyond the risk tolerance of commercial sources of capital. This past fiscal year, MIGA worked with various stakeholders to develop our own strategy that aligns our objectives with the World Bank Group’s twin goals and underscores our aspiration to achieve significant development impact beyond what we can do alone. To achieve this, MIGA will need to be financially sustainable by prudently managing our risks, covering operating costs, and creating financial latitude by growing the Agency’s capital base. -
Publication
MIGA Annual Report 2013 : Insuring Investments, Ensuring Opportunities
(Washington, DC: World Bank Group, 2013-10-11)In fiscal year 2013, Multilateral Investment Guarantee Agency (MIGA) issued 2.8 billion dollars in investment guarantees for projects in our developing member countries. At 1.5 billion dollars, representing more than half of new business, the bulk of MIGA's guarantees issued support investments in Sub-Saharan Africa. Sixty-nine percent of new business volume this year was in complex projects in infrastructure and extractive industries, a strategic priority for the Agency. This year, 82 percent of MIGA's new volume fell into one or more of strategic priority areas: investments in the world's poorest countries, "South-South" investments, investments in conflict-affected countries, and investments in complex projects. MIGA also established the conflict-affected and fragile economies facility to further deepen support to this priority area. -
Publication
IFC Annual Report 2013 : The Power of Partnerships
(Washington, DC: World Bank, 2013-09-17)The International Financial Corporation (IFC), a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector in developing countries. This report summarizes IFC’s role in helping the private sector create jobs and opportunity in developing countries. It highlights how we spur innovation, influence policy, provide a demonstration effect for others, and strive to maximize our development impact. -
Publication
ICSID 2013 Annual Report
(Washington, DC, 2013)International investment law and international investment arbitration are relatively new disciplines: the first bilateral investment treaty was signed by Pakistan and Germany in 1959, the first investment treaty offering investor-state arbitration was concluded in 1968 between the Netherlands and Indonesia, the first International Center for Settlement of Investment Dispute (ICSID) case was registered in 1972, and the first treaty-based investment case was registered by the Centre in 1987. The Centre itself was established in 1966, along with the coming into force of the ICSID convention. It was the first dispute resolution facility designed exclusively for international investment dispute settlement, and it continues to be the only international facility dedicated to this area. This specialized mandate has allowed ICSID to develop an unparalleled expertise and focus, which benefits disputing parties, arbitrators and contracting states. Cumulatively, ICSID has administered over 430 cases, involving foreign investors from all regions of the world and more than 95 states and state agencies under the ICSID convention and rules. In addition, it has administered over 40 investment arbitration cases initiated under the United Nations Commission on International Trade Law (UNCITRAL) arbitration rules and other arbitral rules. The end-of-fiscal year results confirm that ICSID remains the leader in international investment dispute resolution. This report is organized as follows: chapter one gives introduction; chapter two gives list of contracting states and other signatories of the convention; chapter three presents panels of arbitrators and of conciliators; chapter four gives operations of the Centre; chapter five presents outreach of ICSID; chapter six deals with forty-sixth annual meeting of the administrative council; and chapter seven presents financial statements of ICSID. -
Publication
MIGA Annual Report 2012
(Washington, DC: World Bank, 2012-10)In fiscal year 2012, a total issue of $2.7 billion in guarantees for projects in Multilateral Investment Guarantee Agency's (MIGA's) developing member countries and an additional $10.6 million was issued under MIGA administered trust funds. This is another record high for new issuance by the Agency, the second consecutive year of this trend, and was marked by increased regional and sectoral diversification. Fifty-eight percent of projects guaranteed, accounting for 70 percent of the total volume of new coverage, address at least one of MIGA's four strategic priority areas. Fiscal year 2012 also marks the fifth consecutive year of record levels in the Agency's gross portfolio. MIGA issued $2.7 billion in guarantees in support of investments in developing countries. The Agency welcomed two new members, Niger and South Sudan, during the fiscal year. This report highlights MIGA's active support for these objectives in fiscal year 2012. It demonstrates the Agency's ability to deliver on its mandate to promote foreign direct investment into developing countries to support economic growth, reduce poverty, and improve people's lives. As the global investment environment becomes increasingly volatile, and MIGA's clients look for opportunities in frontier markets, there is greater interest in political risk-mitigation mechanisms. MIGA has positioned itself well to respond to these developments especially as a result of its stronger field presence and internal reforms over the last two years. MIGA is committed to promoting projects that promise a strong development impact and are economically, environmentally, and socially sustainable. MIGA's projects this past year demonstrate this focus in a wide range of sectors, across all regions. In fiscal year 2012 the Agency's projects in the region accounted for 24 percent of volume, twice the level of the previous year. -
Publication
ICSID 2012 Annual Report
(Washington, DC, 2012-09)The recent growth in investor-state arbitration has continued apace. International Center for Settlement of Investment Dispute (ICSID) registered a record 38 cases in 2011, and had registered 19 further cases by June 30, 2012. Included in these numbers are 3 new conciliation cases, showing an increased resort not simply to arbitration but also to alternative methods of dispute resolution available under the ICSID convention and additional facility. Such statistics should not be considered in isolation from their broader economic context. There have been unprecedented increases in global flows of foreign direct investment in the last two decades. These statistics must also be read in light of the fact that international investment law and investor-state dispute settlement are a new discipline. ICSID continues to play a vital role in the evolving international investment legal system. Its primary job is very specific: to offer foreign investors and host States an impartial, effective and accessible facility for arbitration and conciliation of international investment disputes. ICSID has taken numerous steps in the past year to enhance its capacity to fulfill this role. In September of 2011, ICSID announced a new list of Chairman's appointees to the panel of arbitrators and panel of conciliators. ICSID will continue its efforts to provide excellent service to disputing parties in the upcoming year. -
Publication
Managing Risk, Promoting Growth: Developing Systems for Social Protection in Africa--The World Bank's Africa Social Protection Strategy 2012-2022
(World Bank, Washington, DC, 2012-06)A growing body of evidence demonstrates that individuals and households experience a range of positive outcomes from social protection. Social protection increases productivity and growth. Countries can realize significant benefits by creating an integrated social protection system. Social protection is affordable in low-income countries despite tight budgets. While overall spending on social protection in Africa remains low by international standards, experience suggests that social protection programs can achieve national coverage at the cost of only 1 to 2 percent of gross domestic product (GDP). While this is only a portion of the financing required to operate a social protection system, it draws attention to what countries can achieve in the short-term. Indeed, one way in which existing social protection spending can be made significantly more efficient would be by reallocating existing financing for inefficient subsidies and ad hoc emergency food aid to predictable safety nets. At the same time, pursuing reforms to social security systems will ensure their fiscal sustainability, while expanding coverage. Notably, the costs of not protecting poor families are very high, are borne disproportionately by women and children, and undermine the productivity of future generations. The Strategy will be implemented by leveraging partnerships, knowledge, and the World Bank's financing instruments. The World Bank will continue to invest in analytical work to fill knowledge gaps and promote an evidence-based dialogue for social protection systems in Africa and further innovation. It will work with governments to build country-owned national social protection systems with the aim of reducing fragmentation in the sector. The Bank also will pay particular attention to institutional development and capacity building by using its lending to increase the coverage of successful social protection interventions. Throughout this work, the Bank will work in coordination with governments, development partners, the private sector, academics, civil society, and beneficiaries.