Purbaya Guarantees Whoosh Debt Settlement Won't Burden State Budget, Outlines Alternative Funding

Finance Minister Purbaya Yudhi Sadewa has assured that the settlement of the Whoosh high-speed rail project’s debt will not burden the state budget (APBN). Purbaya emphasized that the government will minimize the use of APBN funds to resolve the financial obligations of the Jakarta-Bandung High-Speed Train (KCJB) project. “For Whoosh, we will minimize the use of APBN funds as much as possible,” Purbaya stated at the Ministry of Finance in Jakarta on Thursday. He has not yet detailed the specific funding sources but indicated that the government will utilize various instruments outside the state budget, including Special Mission Vehicles (SMVs). Regarding the potential use of proceeds from Panda Bonds, Purbaya clarified that the instrument is currently prioritized to cover the state budget deficit. He added that whether these funds will be used for the Whoosh debt in the future remains to be seen.