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National Blueprint · One of 195

Bhutan

A Himalayan kingdom of 800,000 whose electricity comes entirely from water and whose forest covers 70% of the land, where the World Bank signed $515 million for the Dorjilung hydropower project in May 2026.

Perfect Nations values what Bhutan owns and raises capital against it, through innovative financing for development (FfD) and super intelligence (SI).

Bhutan at a glance

Work with usRead the Letter to Bhutan

What we do for Bhutan

Assets. Capital. Solutions.

Perfect Nations is a new-age sovereign advisory firm, and its clients are nations.

  1. 01AssetsThe cupFive sovereign assets, valued, from The Clean Grid to The People.
  2. 02CapitalThe laurels3 instruments and investments on record, every one sourced.
  3. 03SolutionsThe seven starsSeven basic standards of living, star by star. Shelter is furthest from reach today.

The whole logo: a Perfect Nation, where every citizen has all seven basic standards of living, led by good governance.

01Assets · The cup · Sovereign Assets

Five assets no balance sheet counts.

Each is owned today, earns today, and can carry Bhutan toward seven basic standards of living for every citizen.

  • 100%Of electricity from renewable sources, 2021

    The Clean Grid

    Every unit of power from rivers that fall from the Himalaya.

  • 70.4%Of the land under forest, 2024

    The Forest

    Forest across seven tenths of the land, protected by law and by custom.

  • 99,883 m³Renewable fresh water a person, 2022

    The Fresh Water

    Almost 100,000 cubic metres of fresh water a person each year: among the richest endowments on earth.

  • 10.7%Of export earnings from visitors, 2020

    The Visitors

    Monasteries, mountains and a policy of high-value, low-volume tourism.

  • 796,682Citizens, 2025

    The People

    20.4% are under fifteen: the workforce and the market of the next generation.

Every figure, with its sourceThe Sovereign Assets ledger

02Capital · The laurels · Capital Architecture

Hydropower: the kingdom’s balance sheet.

Bonds, guarantees, swaps and loans that raise capital against what Bhutan owns, every line sourced.

Capital Architecture

The record in figures

Capital already committed

  • MultilateralSignedDorjilung Hydroelectric Power Project$515M

    World Bank · Financing agreements signed May 2026

    A large run-of-river hydropower project, financed with an innovative World Bank Group package.

    World Bank

    Source
  • MultilateralApprovedSecond Green and Resilient Growth DPC$50M

    World Bank · Approved 22 August 2023

    Budget support for green and resilient growth.

    World Bank

    Source
  • MultilateralApprovedClimate and Disaster Resilience DPF with a Cat DDO

    World Bank · Approved 11 December 2024

    A contingent credit line that pays out when disaster strikes.

    World Bank

    Source

Already working in Bhutan.

Independent firms and social enterprises already at work in Bhutan, highlighted by Perfect Nations. None is a partner of Perfect Nations.

Suggest an enterprise

  • The first firms and social enterprises at work in Bhutan are being gathered.

    Name one already at work there: it may be highlighted here, with its source.

03Solutions · The seven stars · Perfect Capita

Perfect Bhutan, star by star.

Perfect Capita is the yearly cost, per person, of lifting everyone above the Living Line in all seven basic living standards, set with Bhutan in its own prices.

How Perfect Capita works
Bhutan: the seven stars of the logo, one for each basic standard of living, rising from the cup; Food is the larger centre star. Each star carries the figure for Bhutan.WATER65.6%SHELTER49.5%ENERGY93%FOOD–EDUCATION56.6HEALTH69LIVELIHOOD87.6%
49.5%
Shelter · furthest from reachSafely managed sanitation; 44.7% of city dwellers live in slumsWHO/UNICEF, 2024

Tap a star for its figure and source.

The price of Perfect Bhutan

To be set with Bhutan, from its own figures and in its own prices: Perfect Capita times the people of Bhutan, each year.

Read more
  • FoodNot measuredNo FAO measure of food insecurity is published for BhutanFAO
  • Water65.6%Safely managed drinking waterWHO/UNICEF, 2024
  • Shelter49.5%Safely managed sanitation; 44.7% of city dwellers live in slumsWHO/UNICEF, 2024
  • Energy93%93% cook with clean fuels and technology; 100% have electricityWorld Bank, 2024
  • Education56.656.6% of young people complete lower secondary schoolWorld Bank, 2024
  • Health69WHO service coverage indexWHO, 2023
  • Livelihood87.6%Above the national poverty line; 12.4% live below itWorld Bank, 2022

Perfect Nations estimate, to be confirmed with Bhutan. Figures marked dated rest on surveys more than five years old; lenient measures are marked as such. The strict measures

Strict measures. Food: share not moderately or severely food insecure (FAO). Water: safely managed drinking water where measured; where it is not, basic water, marked as such. Shelter: the lower of safely managed sanitation and the share outside urban slums. Energy: the lower of electricity per person against 1,000 kWh and clean cooking; where electricity per person is not published, clean cooking. Education: the lower of children reading by the end of primary school and lower-secondary completion. Health: WHO service coverage index. Livelihood: share above the stricter of the national poverty line and the World Bank line for the nation’s income group (US$8.30 a day for high-income nations). Each figure links to its source.

Solutions for Perfect Bhutan

All Solutions

  • The Solution for BhutanShelter

    Ring-fence bond money for homes and sanitation.

    • 01The challenge50.5% Of Bhutanese lack safely managed sanitation. WHO/UNICEF, 2024
    • 02The dealSocial bond, proved in Ecuador, 2020: $400M for affordable homes. Inter-American Development Bank, 2020
    • 03What Perfect Nations advisesNations where shelter is furthest from reach should issue a social bond whose proceeds can be spent only on eligible homes, toilets and sewers. With super intelligence, each unit can be planned, priced and verified, and reported to investors every year, until every family has a safe home.
    Co-design it inThe ReDesign StudioThe three mandates
Perfect Nations® · Letters to the NationsBhutan

Dear Bhutan,

Your rivers give you all your power and your forests cover most of your land; you measure progress by happiness as well as income.

Read more

Your public debt exceeds your economy. Half of you still lack safely managed sanitation. Let the power the rivers earn reach the homes beside them.

“The rivers already pay for the nation’s power. Let them pay for every home’s sanitation too.”

Yours in design,Preeti SinhaPresident and CEO, Perfect Nations

Work with us · The ReDesign Studio

The Perfect Bhutan ReDesign Studio

One mission, three depths: the same four moves for Bhutan, taken as far toward market as you choose.

Read more

For the Government of Bhutan, its development partners and investors. Scope and fees are agreed in writing before any work begins.

  1. 01Identify the assets
  2. 02Estimate Perfect Capita
  3. 03Co-design the capital architecture
  4. 04Launch the instruments

  1. Mandate 013 hours

    The Nation Briefing

    A private session for the people who decide.

    You leave withThe gap, named and sized

    Read more
    1. 01The five sovereign assets on this page, walked through.
    2. 02Shelter, the standard furthest from reach, and the Gap, explained.
    3. 03The instruments that could close the Gap, shortlisted.
    4. 04The path to market, outlined.
    Request a Nation Briefing

  2. Mandate 023 days

    The Blueprint Lab

    Your team and ours, working the blueprint together.

    You leave withThe structure, drawn

    Read more
    1. 01The ledger tested against your ministries’ own data.
    2. 02Each of the seven standards costed in local prices.
    3. 03One financing structure, drawn with your team.
    4. 04A term sheet and the partners to approach.
    Plan a Blueprint Lab

  3. Mandate 03End to end

    The Sovereign Mandate

    Led personally by the President and CEO.

    You leave withA structure ready for market

    Read more
    1. 01A full sovereign asset ledger, valued and verified.
    2. 02Perfect Capita set and agreed with government, with a monitoring plan.
    3. 03The full structure: legal form, credit enhancement, guarantees and pricing.
    4. 04Taken to investors and development partners, through to close.
    Discuss a Sovereign Mandate

Co-design it with us

Where Bhutanese and Co-designers design the nation they want to live in.

  • Writings

    Write Perfect Bhutan into being.

    Up to 1,500 words on your vision of Perfect Bhutan, published with your name.

    Submit your writing

  • Voices of Perfect Nations Launching soon

    The local leaders already building Perfect Bhutan.

    Great local leaders: honest, dedicated and committed to basic standards of living for all. Every guest answers one question: “What does Bhutan already own, and how could it pay for a decent life for every citizen?”

    Nominate yourselfSuggest a guest

  • Co-designers

    Join the community.

    Everyone who shares a vision, a voice or an enterprise here becomes a Co-designer of Perfect Bhutan.

    Become a Co-designer

The Bhutan ReDesign Studio is open

Design Perfect Bhutan with us.

Share your vision, suggest a guest, or write to us: every message receives a personal reply.

Enter the ReDesign StudioWrite to usAll 195 nations
Sources
  1. World Bank, World Development Indicators (API), accessed 10 November 2026: population and ages 0 to 14, 2025; land area and agricultural and forest land; renewable fresh water per person, 2022; natural resource, oil, gas and mineral rents, 2021; renewable electricity output, 2021; tourism receipts; personal remittances; electricity access and clean cooking.
  2. The seven standards: FAO food insecurity, WHO/UNICEF JMP water and sanitation, UN-Habitat urban slums, World Bank clean cooking, learning poverty and lower-secondary completion, and poverty headcounts (all via the World Bank); WHO UHC service coverage index, 2023.
  3. IMF, World Economic Outlook, October 2026 (DataMapper, accessed 10 November 2026): general government gross debt, 2025, and real GDP growth projected for 2026.
  4. World Bank press releases of 22 January and 5 May 2026; World Bank projects P178635 and P500536.
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