The bank acted as a turnkey financier to AG Gas Power Corporation for expanding it from 100mw to 272mw. The bank's chairman and managing director Ramesh Gelli said that this scheme offered standby finance for projects. There is a considerable time lag between the in-principle clearance of a project and actual disbursals from major financial institutions (FIs). Global will step in after the financial closure and in-principle clearance from the FIs so that work on the project can begin. The turnkey finance offered by the bank will be in the form of LC, guarantees or direct funds. Global will take first charge on the disbursal from the main financing institution.

Global funded the Andhra Pradesh power project to the tune of around Rs 250 crore, which enabled it to complete the project in a record 12 months. Talks are on for financing another powerproject involving a similar amount, Gelli indicated.