International Agreements Protect Foreign Investment

1. Overseas Private Investment Corporation (OPIC)
Since 1985 Colombia is covered by the Overseas Private Investment Corporation (OPIC). The OPIC’s purpose is to encourage US investment in developing countries by financing and insuring investment projects developed with any Colombian public entity against risks such as inconvertibility of foreign currency, expropriation and political violence.

2. Multilateral Investment Guarantee Agency (MIGA)
Since 1994 Colombia is a member of the World Bank’s Multilateral Investment Guarantee Agency (MIGA), a multilateral institution that offers foreign investment guarantees against non-commercial risks such as the inconvertibility of foreign currency, discriminatory expropriation, breach of contracts, war and civil disturbances.

3. International Center for the Settlement of Investment Disputes (ICSID)
The Colombian Congress has ratified the agreement that created the International Center for the Settlement of Investment Disputes (ICSID) so that states and citizens of other States can have access to a settlement mechanism and international arbitration.