Step 1: Dimensions after each fold.
Initially, the dimensions of the paper are \( 20 \, \text{cm} \times 8 \, \text{cm} \).
First fold: The paper is folded along the 20 cm side, resulting in dimensions \( 10 \, \text{cm} \times 8 \, \text{cm} \).
Second fold: The paper is folded along the new 10 cm side, resulting in dimensions \( 5 \, \text{cm} \times 8 \, \text{cm} \).
Third fold: The paper is folded along the new 8 cm side, resulting in dimensions \( 5 \, \text{cm} \times 4 \, \text{cm} \).
Step 2: Calculate the perimeter.
The perimeter of the final folded sheet is:
\[
P = 2 \times (\text{length} + \text{breadth}) = 2 \times (5 + 4) = 18 \, \text{cm}.
\]
Final Answer:
\[
\boxed{18 \, \text{cm}}
\]