MULTILATERAL INVESTMENT GUARANTEE AGENCY
Created in 1988 MIGA aims to encourage foreign direct investment by providing guarantees,
known as political risk insurance, to foreign investors against loss caused by non-commercial
risks in developing countries. MIGA, which is part of the World Bank Group, also provides
technical assistance such as capacity building and advisory services to help countries attract
foreign investment. In addition MIGA provides dispute mediation services to reduce future
obstacles to investment. Since its creation MIGA has issued nearly $14.7 billion in guarantees
for projects in 91 countries. 42 per cent of its activity is concentrated within areas considered to
be high-risk and low-income, many of which are in Africa.
INTERNATIONAL CENTRE FOR SETTLEMENT OF INVESTMENT DISPUTES
The International Centre for Settlement of Investment Disputes (ICSID) is an international
arbitration institution which facilitates arbitration and conciliation of legal disputes between
international investors. The ICSID is a member of the World Bank Group and is headquartered
in Washington, D.C., United States. It was established in 1966 as a multilateral specialized
dispute resolution institution to encourage international flow of investment and mitigate noncommercial
risks. Although the ICSID is a member of the World Bank Group and receives its
funding from the World Bank, it was established as an autonomous institution by a separate
treaty drafted by the International Bank for Reconstruction and Development's executive
directors and signed by member countries. The ICSID is contracted with and governed by its
member countries, but has its own Secretariat which carry out its normal operations. The ICSID
also helps administer dispute resolution proceedings under other treaties and for alternative
arbitration mechanisms. The center also performs advisory activities and maintains several
publications.
WORLD TRADE ORGANISATION AND GATT
The World Trade Organization (WTO) is an organization that intends to supervise and
liberalize international trade. The organization officially commenced on January 1, 1995
under the Marrakech Agreement, replacing the General Agreement on Tariffs and Trade
(GATT), which commenced in 1948.The organization deals with regulation of trade between
participating countries; it provides a framework for negotiating and formalizing trade
agreements, and a dispute resolution process aimed at enforcing participants' adherence to
WTO agreements, which are signed by representatives of member governments and ratified by
their parliaments. Most of the issues that the WTO focuses on derive from previous trade
negotiations, especially from the Uruguay Round (1986–1994).
Created in 1988 MIGA aims to encourage foreign direct investment by providing guarantees,
known as political risk insurance, to foreign investors against loss caused by non-commercial
risks in developing countries. MIGA, which is part of the World Bank Group, also provides
technical assistance such as capacity building and advisory services to help countries attract
foreign investment. In addition MIGA provides dispute mediation services to reduce future
obstacles to investment. Since its creation MIGA has issued nearly $14.7 billion in guarantees
for projects in 91 countries. 42 per cent of its activity is concentrated within areas considered to
be high-risk and low-income, many of which are in Africa.
INTERNATIONAL CENTRE FOR SETTLEMENT OF INVESTMENT DISPUTES
The International Centre for Settlement of Investment Disputes (ICSID) is an international
arbitration institution which facilitates arbitration and conciliation of legal disputes between
international investors. The ICSID is a member of the World Bank Group and is headquartered
in Washington, D.C., United States. It was established in 1966 as a multilateral specialized
dispute resolution institution to encourage international flow of investment and mitigate noncommercial
risks. Although the ICSID is a member of the World Bank Group and receives its
funding from the World Bank, it was established as an autonomous institution by a separate
treaty drafted by the International Bank for Reconstruction and Development's executive
directors and signed by member countries. The ICSID is contracted with and governed by its
member countries, but has its own Secretariat which carry out its normal operations. The ICSID
also helps administer dispute resolution proceedings under other treaties and for alternative
arbitration mechanisms. The center also performs advisory activities and maintains several
publications.
WORLD TRADE ORGANISATION AND GATT
The World Trade Organization (WTO) is an organization that intends to supervise and
liberalize international trade. The organization officially commenced on January 1, 1995
under the Marrakech Agreement, replacing the General Agreement on Tariffs and Trade
(GATT), which commenced in 1948.The organization deals with regulation of trade between
participating countries; it provides a framework for negotiating and formalizing trade
agreements, and a dispute resolution process aimed at enforcing participants' adherence to
WTO agreements, which are signed by representatives of member governments and ratified by
their parliaments. Most of the issues that the WTO focuses on derive from previous trade
negotiations, especially from the Uruguay Round (1986–1994).
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