Fast Train Debt Reaches IDR 112.7 Trillion, Minister Of Finance Purbaya Sends It To Danantara

Indonesian Finance Minister Purbaya Yudhi Sadive. (Doc. Antara)

YOGYAKARTA Minister of Finance Purbaya Yudhi Sadive recently alluded to the debt problem for the Jakarta Fast Train (KCJB) project. He said that the debt should not be the responsibility of the government. He said that the fast train debt must be settled by the Anagata Nusantara Power Investment Management Agency (BPI Danantara).

As is known, the Jakarta-Bandung High Speed Rail Project (KCJB) is being highlighted because the amount of debt is very large. The project also experienced swelling from US$ 6.07 or around Rp. 94.1 trillion to around US$ 7.27 billion or around Rp. 112.7 trillion (with an exchange rate of Rp. 15,500).

The financing for the project mostly comes from a Chinese Development Bank (CDB) loan. The interest on the Jakarta-Bandung high-speed train debt is 3.8 percent, the tenor is 35 years. This means that the Jakarta-Bandung high-speed train debt from the original Rp112.7 trillion could swell due to interest accumulation.

Danantara, which is now a state-owned superholding company, is rumored to be looking for ways to ease financing, one of which is by asking for APBN support. Unfortunately, this effort is not supported by the Minister of Finance.

Minister of Finance Purbaya assessed that the project's financial responsibility could be managed independently by Danantara. He assessed that Danantara currently has a self-devident with an average income of more than Rp. 80 trillion. This figure is considered manageable.

"They should manage it from there, don't let us anymore, because if not, it's all us again," he said during the 2026 State Budget Media Gathering in Bogor, Friday, October 10.

"Let's not be (on stage) anymore. Because if not, then everything will be us again, including the dividends. So this is what the private sector wants to separate from government," he added.

Regarding the payment of KCJB project debt, the government has stated that it will not use the State Revenue and Expenditure Budget (APBN) funds. Minister of State Secretary (Mensesneg) Prasetyo Hadi explained that the government had held discussions to find solutions to finance the debt so as not to burden the state budget.

"Some time ago, it has also been discussed to be asked to find a scheme, yes, a scheme so that the financial burden can be found a way out," he said while at President Prabowo Subianto's residence, Kertanegara, Jakarta, Sunday, October 12 evening.

On the same occasion, Prasetyo also said that theASH project is considered capable of bringing in great benefits, especially to improve connectivity in Jakarta-Bandung.

"In fact,PORTs are one of the modes of transportation that really helps people's activities, both from Jakarta and Bandung and vice versa," he said.

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