A more thorough explanation:

The International Centre for the Settlement of Investment Disputes (ICSID) is an organization created by the United Nations to help resolve disputes between member states and individuals who are citizens of other member states. The goal is to promote continued private international investment, especially in developing countries.

For example, if a company from one country invests in a project in another country and there is a dispute over the terms of the investment, ICSID can help mediate and arbitrate the dispute to find a fair resolution for both parties.

ICSID is important because it helps to create a stable and predictable environment for international investment, which can encourage economic growth and development in countries around the world.