Banque Ouest Africaine de Develuppement (BOAD) is a banking institution based in Lome, Togo. Established in 1973, the bank is the common development finance institution of the member countries of the West African Monetary Union (WAMU). The bank focuses on promoting the balanced development of the member states while fostering integration within West Africa. The bank has established subsidy funds, guarantee funds, buyout guarantee funds, and research funds. The bank is managed and administered by the Chairperson appointed by the WAEMU Council of Ministers, assisted by the Vice-Chairperson appointed by the bank board of directors.