Signed on March 18, 1965, and commonly known as the ICSID Convention, the Washington Convention, promoted by the World Bank, established the International Centre for Settlement of Investment Disputes between foreign investors and host states. ICSID is an autonomous and independent international body, headquartered in Washington D.C., whose arbitral awards are binding and must be recognized and enforced like a final judgment issued by a national court of a contracting state. The objective of the treaty is to ensure a secure and impartial legal framework for foreign investors.

https://icsid.worldbank.org/sites/default/files/ICSID%20Convention%20English.pdf