The World Bank's International Centre for Settlement of Investment Disputes (ICSID) provides facilities for conciliation and _____ of investment disputes between member countries and foreign investors.
- mediation
- arbitration
- litigation
- negotiation
Answer: arbitration
ICSID, established by the 1966 Washington Convention, offers neutral, rules-based arbitration and conciliation for international investment disputes. Its awards are binding and enforceable in member states' courts, promoting investor confidence and rule of law.