Indus Waters Treaty: Kishenganga Arbitration

On 19 September 1960, the Governments of the Republic of India and the Islamic Republic of Pakistan (the “Parties”) signed the Indus Waters Treaty 1960 (the “Treaty”). Notably, the Treaty was also signed by the International Bank for Reconstruction and Development (the “World Bank”) in respect of the World Bank’s role under certain provisions of the Treaty. Instruments of ratification were exchanged between the Parties on 12 January 1961; the Treaty entered into force on that date with retroactive effect to 1 April 1960, as stated in Article XII(2). On May 17, 2010, the Islamic Republic of Pakistan instituted arbitral proceedings against the Republic of India under Paragraph 2(b) of Annexure G to the Treaty. A Court of Arbitration composed of seven members has been constituted pursuant to Annexure G. The Permanent Court of Arbitration acted as Secretariat to the Court of Arbitration pursuant to Paragraph 15(a) of Annexure G. The Court of Arbitration was composed of: Judge Stephen M. Schwebel (Chairman), Sir Franklin Berman KCMG QC, Professor Howard S. Wheater FREng, Professor Lucius Caflisch, Professor Jan Paulsson, Judge Bruno Simma, H.E. Judge Peter Tomka. Having considered the Parties’ submissions, the Court of Arbitration unanimously decided: