Jakarta. The Indonesian government and its sovereign wealth fund Danantara will share the financial burden in restructuring the debt of the Jakarta–Bandung high-speed rail project, known as Whoosh, as part of efforts to ensure the project’s long-term sustainability, an executive said on Tuesday.

Under the new cost-sharing arrangement, the government will be responsible for infrastructure-related expenses, while Danantara will focus on managing the rail line’s operations, said Danantara Chief Operating Officer Dony Oskaria.

“The restructuring scheme has been approved by President Prabowo Subianto,” Dony told reporters at Graha Mandiri in Central Jakarta. “The government will handle infrastructure obligations, and Danantara will oversee operational matters for Whoosh. This is the best solution for maintaining the project’s viability.”

He said the restructuring aligns with President Prabowo’s directive to keep the high-speed rail project efficient and maximize its economic benefits.

“The Whoosh train has brought many advantages to society and the broader economy. It’s a positive step that strengthens mass transportation and contributes to economic activity,” Dony said.

He added that Danantara is committed to improving operational efficiency to attract more passengers and enhance service quality.

“Operations are Danantara’s responsibility. We’ll continue to optimize the Whoosh service to make it more reliable and appealing, and we hope to see passenger numbers grow further,” he said.

The Jakarta–Bandung high-speed rail, Indonesia’s first, cost $7.27 billion to build. About 75 percent of the financing came from a loan by the China Development Bank (CDB) at a 2 percent annual interest rate.

The project was jointly developed by a consortium of Indonesian and Chinese state-owned enterprises and has been under Danantara’s oversight since the fund assumed management of Indonesia’s SOEs earlier this year. The restructuring aims to stabilize the project’s finances while balancing government and institutional responsibilities.

Since its launch two years ago under the Joko Widodo administration, the Whoosh rail line has carried roughly 12 million passengers, connecting Jakarta and Bandung in just 45 minutes and symbolizing Indonesia’s ambitions for modern, high-speed transport infrastructure.