The Participation of African States in the Making of the ICSID Convention

Abstract

This note examines the role of African States in the foundation of the International Centre for Settlement of Investment Disputes (ICSID). More specifically, it discusses their contributions to the formulation of the constituent treaty of ICSID, the Convention on the Settlement of Investment Disputes between States and Nationals of Other States,2 and to its eventual finalization and entry into force. As detailed below, the process began in 1962 and was completed in 1966. In the immediately preceding years, rapid decolonization, particularly in Africa, had greatly increased the number of independent developing countries. Most of the newly independent countries quickly joined the International Bank for Reconstruction and Development (IBRD), raising by about 50 per cent the number of its developing country members. Promoting the creation of ICSID was one of a number of steps that the IBRD took to assist them with their economic development and need for outside capital. As the then President of the IBRD put it: