China Ambassador: Whoosh Debt Restructuring Talks Progressing Well

Jakarta (ANTARA) - The Chinese Ambassador to Indonesia, Wang Lutong, has ensured that discussions regarding the debt restructuring of the Jakarta-Bandung High-Speed Railway project, known as Whoosh, between Indonesia and China are proceeding well.

“We continue to communicate closely with key individuals and relevant ministries. Everything is progressing well,” Wang replied to journalists when met following the 2026 China-Indonesia Media and Think Tank Forum in Jakarta on Wednesday.

He explained that the debt for the high-speed rail project is not trade debt, but rather funds lent by China to development banks, which subsequently provided loans for the Whoosh project.

However, when asked whether a specific agreement had been reached regarding the Whoosh debt restructuring, Ambassador Wang stated that he could not yet provide further details.

“It is not yet possible to provide details while discussions are ongoing. What is certain is that everything is proceeding according to plan,” said the Chinese Ambassador to Indonesia.

Last April, the Indonesian Minister of Finance, Purbaya Yudhi Sadewa, revealed that the debt restructuring for the Whoosh project had been completed. “It is finished (the restructuring); it just needs to be announced,” he said in Jakarta on Wednesday (22/4).

The government has also communicated these results to the Chinese government. This step was taken to maintain long-term bilateral relations and trust between the two nations.

“Yesterday I met with the Chinese Finance Minister. This relates to the long-term relationship between Indonesia and China. I told the Chinese Finance Minister that a decision has been made and it is simply awaiting announcement,” Purbaya said at the time.

Subsequently, on 23 April, the Chief Executive Officer (CEO) of Danantara Indonesia, Rosan Roeslani, stated that the debt restructuring scheme for the Whoosh project has entered the fine-tuning stage.

Amidst the Whoosh debt restructuring process, Indonesian President Prabowo Subianto decided to form the Jakarta-Bandung High-Speed Railway Committee through the Presidential Regulation of the Republic of Indonesia Number 29 of 2026, signed on 12 May 2026.

The President also appointed the Coordinating Minister for Infrastructure and Regional Development, Agus Harimurti Yudhoyono (AHY), as the Chairman of the Jakarta-Bandung High-Speed Railway Committee.

Regarding the Whoosh project, AHY emphasised that the government is currently prioritising the completion of financial restructuring before proceeding to the next development stages for the high-speed rail project to other regions.