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Financial Assistance Fund

 

In October 1994, the Administrative Council agreed to establish a Financial Assistance Fund which aims at helping developing countries meet part of the costs involved in international arbitration or other means of dispute settlement offered by the PCA.

A “Qualifying State” may seek such financial assistance by submitting a written request to the Secretary-General. Qualifying States are state parties to the Convention of 1899 or 1907 that:

 

  1. have concluded an agreement for the purpose of submitting one or more disputes, whether existing or future, for settlement by any of the means administered by the PCA; and
  2. at the time of requesting financial assistance from the fund, are listed on the “DAC List of Aid Recipients” prepared by the Organization for Economic Co-operation and Development (OECD).


The Financial Assistance Fund Board of Trustees currently consists of:

 

The Honorable L. Yves Fortier, PC, CC, OQ, QC (former Ambassador to the United Nations, arbitrator and Chair of the World Bank Sanctions Board);  

Mr. Hans Corell (former Legal Advisor to the United Nations);
Judge Gilbert Guillaume (former President of the International Court of Justice);
Judge Kenneth Keith (Judge of the International Court of Justice);
Prof. Dr. Ahmed Al-Kosheri (arbitrator and former Judge ad hoc of the International Court of Justice);
Mr. Christopher Pinto (former Secretary-General of the Iran-United States Claims Tribunal); and
Judge Bernardo Sepúlveda-Amor (Vice President of the International Court of Justice). 

 

The Financial Assistance Fund Terms of Reference & Guidelines can be downloaded in PDF from the Documents and Resources section.