Review of ICANN Regions
One of the core values underlying ICANN’s structure and operations is support for broad and informed participation reflecting the geographic diversity of the Internet at all levels of policy development and decision making. This support is implemented by numerous requirements for geographic diversity reflected in ICANN’s bylaws, in the operating procedures of ICANN entities and in its culture. These requirements are framed in terms of Geographic Regions, as provided in Article VI, Section 5 of the bylaws.
http://icann.org/announcements/announcement-rev-28nov06.htm