1 minute read
Leveraging foreign investment for sustainable growth
The Investment Support Programme for Least Developed Countries, designed by IDLO in partnership with the United Nations Office of the High Representative for the Least Developed Countries, Landlocked Developing Countries and Small Island Developing States, provides legal advice and technical support to governments and eligible private sector entities on investment-related matters, including negotiations and dispute settlement, helping to ensure that countries derive maximum benefit from foreign investments.
Despite the challenges posed by the COVID-19 pandemic, during 2020 IDLO provided technical support to the Government of The Gambia in an investorstate arbitration with a foreign investor concerning two offshore petroleum licenses. As a result of the favorable settlement of the dispute, The Gambia is no longer exposed to the risk of millions of dollars in damage claims.
Advertisement
In 2020 IDLO also launched three initiatives under the Programme:
• In Malawi, expert advice was sourced to assist a state-owned entity in preparing investment contract templates for negotiations with foreign investors and to enhance the skills of national staff in negotiating such agreements.
• In Ethiopia, a new project was launched to support the capacity development of government officials on investment contracts negotiation and international investment law and arbitration, with the aim of retaining foreign direct investment and contributing to the country’s development priorities.
• In Liberia, IDLO is supporting the National
Investment Commission in managing and retaining foreign direct investment, through direct legal assistance on investment facilitation and dispute settlement, and via the training of national staff.
The Investment Support Programme for Least Developed Countries provides this support at no cost to beneficiaries.
© Logan Abassi / UN Photo
Cherno Marenah, Solicitor General of The Gambia
