Purbaya assures Whoosh debt settlement will not burden state budget

Jakarta (ANTARA) – Finance Minister Purbaya Yudhi Sadewa has assured that settling the debt of the Jakarta-Bandung High-Speed Railway (KCJB), known as Whoosh, will not burden the State Budget (APBN).

Although he has yet to detail the financing scheme to be used, the Finance Minister stressed that the government will minimise the use of APBN funds to settle the project’s debt obligations.

“As for Whoosh, even though the APBN sits with the government, we will reduce as much as possible the APBN funds used to pay for Whoosh, but it will be managed by us,” said Purbaya after the Complaint Hearing of the Debottlenecking Channel of the P3M-PPE Task Force in Jakarta on Thursday.

Nevertheless, he has not revealed the financing mechanism that will be taken. He has also not explained the funding sources to be used to settle the debts of PT Kereta Cepat Indonesia China (KCIC).

The Finance Minister hinted that the government will utilise various instruments outside the APBN, including through a Special Mission Vehicle (SMV).

“No, I have plenty of SMVs (Special Mission Vehicles),” he said.

Meanwhile, regarding the possible use of funds from Panda Bond issuance to finance the Whoosh debt, the Treasurer of State said that the instrument is currently being prioritised to cover the APBN deficit.

“The Panda Bond is for covering our deficit. Whether we use it later on, we shall see how things develop,” said Purbaya.