The World Bank put the annual infrastructure deficit in Africa at $93 billion.So why is a major global infrastructure expansion not happening?At a well-attended WEF lunch discussion on infrastructure investments chaired by my good friend Reuben Abraham from India School of Business, I shared with the audience some of my views on this question.The biggest challenge today is the lack of long-termism and excessive reliance on liquidity in capital deployment. Take Asia as an example. In developing Asia, the savings rate is about 37%, far above the level of infrastructure investment that is needed at 20%. Asia's sovereign wealth funds manage over $1,200 billion of assets, and government pension assets in Asia exceed $1,500 billion. However, infrastructure project finance receives very little funding from these sources. PZZ