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Private Investment, Public Burden: Indonesia’s ‘Whoosh’ Lesson
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Private Investment, Public Burden: Indonesia’s ‘Whoosh’ Lesson
Indonesia’s “Whoosh” is Southeast Asia’s first high-speed train, running a 142-kilometre route connecting Jakarta to Bandung. It was initially envisioned to showcase Indonesia’s modern transport infrastructure financed through a pure business-to-business (B2B) scheme. Under this structure, the project was expected to proceed without state budget support or sovereign guarantees, with private partners bearing the full financial risk. However, it h…
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