IFC Makes Historic $20 Million Investment in Bhutan's Power Sector for Enhanced Electricity Reliability
The International Finance Corporation (IFC), part of the World Bank group of institutions, has invested in Bhutan’s infrastructure sector for the first time by providing US$20 million in long-term, local currency-linked financing to Bhutan Power Corporation Limited (BPC). This financing, with the support of the Private Sector Window of the International Development Association, will bring Bhutan its first Bhutanese Ngultrum (BTN)-linked loan, create IFC’s first infrastructure investment in Bhutan, and be the first investment in the power distribution sector in Asia by a state-owned enterprise.
The US$20 million local currency financing will help finance upgrades to Bhutan’s power distribution network, enhance the national grid, and deepen the reliability of electricity for homes and businesses throughout Bhutan. Sonam Tobjey, BPC’s Chief Executive Officer, stated the investment will “contribute to reliability of electricity,” help reduce power outages, and enable socio-economic growth, especially from projects like the Panbang GIS substation and national grid modernization.
IFC began working with Bhutanese authorities to update their External Commercial Borrowing Guidelines, released May 1, 2025, specifically to help create this financing as a part of the regulatory framework for external borrowing. IFC’s leaders have suggested this investment will eliminate rural power outages, drive economic growth, encourage industrial investments and job creation, and improve the well-being of people. In addition to financing, IFC will help BPC enhance environmental, social, and governance efforts and follow its performance standards in order to bring in additional funding from both global and other similar institutions.
This engagement aligns with Bhutan’s Country Partnership Framework (CPF) for Cambodia for FY2025–29, which includes attention towards climate resilience, sustainable infrastructure, and economic connectivity, placing Bhutan in the position for long-term development and growth.
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