Kemenkeu to take over Whoosh debt management on Sept. 15
The payment scheme is still being worked out, with at least two Kemenkeu SMV units and PT PII under the 2027 draft budget.
The Ministry of Finance will take over management of the debt for the Jakarta-Bandung high-speed rail project, or Whoosh, starting Sept. 15, 2026. Finance Minister Purbaya Yudhi Sadewa said the payment scheme is still being discussed, including the possible involvement of at least two Special Mission Vehicle (SMV) units under Kemenkeu. In Book II of the 2027 Draft State Budget Financial Note, the government plans to assign PT Penjaminan Infrastruktur Indonesia (PT PII) to manage the debt of PT Kereta Cepat Indonesia China (KCIC) through a joint guarantee mechanism and a first loss basis share. The scheme is being prepared as a risk buffer for the APBN amid KCIC's financial restructuring and coordination with BPI Danantara and PT KAI.