Estonia rethinks state guarantee rules due to Bolt request [Reuters]
Uber Technologies, Inc. (UBER)
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Source: Reuters
Estonia rethinks state guarantee rules due to Bolt request TALLINN, April 9 (Reuters) - Estonia is considering changing its state-guarantee limits after ride-sharing service Bolt requested state support due to the new coronavirus, the country’s foreign trade minister Kaimar Karu said on Thursday. Founders of Bolt, which is a popular ride-sharing system in Eastern Europe and Africa, have requested 50 million euros ($54 million) credit guarantees from the state, Karu said. So far, Estonia has capped such measures at 5 million. “The limits will be reconsidered,” Karu told a news conference. Bolt — which has over 30 million users in 35 countries — has grabbed business from Uber mostly in major African cities and Eastern Europe. The minister said Estonia could also become an investor in startups like Bolt. “In startups, where there are already many parties, investors, why couldn’t the state be one of these investors?” The government has said it was ready to invest 150 million euros in the
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