Joseph Lim 
#Indonesia seeks to rework China-funded #highspeedrail’s #debt
🤔"¾s of Whoosh’s initial budget, US$6bil, was financed by a loan fr #China Development Bank, w interest rate 2%, while KCIC funded te rest.. project was marred by cost overruns of US$1.2bil.. To finish te project, Jakarta eventually agreed to a Chinese loan to cover te #overrun w interest rate of 3.4%.. Whoosh sold 6.06mil tickets last year, far fewer than #government’s annual target of 31mil"🧐 #infrastructure
https://www.scmp.com/week-asia/economics/article/3326534/indonesia-seeks-rework-china-funded-high-speed-rails-debt
🤔"¾s of Whoosh’s initial budget, US$6bil, was financed by a loan fr #China Development Bank, w interest rate 2%, while KCIC funded te rest.. project was marred by cost overruns of US$1.2bil.. To finish te project, Jakarta eventually agreed to a Chinese loan to cover te #overrun w interest rate of 3.4%.. Whoosh sold 6.06mil tickets last year, far fewer than #government’s annual target of 31mil"🧐 #infrastructure
https://www.scmp.com/week-asia/economics/article/3326534/indonesia-seeks-rework-china-funded-high-speed-rails-debt
