I'm trying to understand how this will profit the investors, the money raised will be used for projects in the country so what does the investors get? Same without tokens majority of the project that did crowdfunding are producing today. Majority of the countries taking this loans aren't using it for productive things which is why they're getting indebted. Imagine a country borrowing money to pay her workers and still this workers don't get paid fully due to corruption.
If this loans were taken and invested into structures that'll be bringing in revenue to the country economy and sure the loans could easily be paid off but no the corruption in this developing country is what is weighing them down. There's no gain in borrowing to eat instead you get indebted more and that's what's happening.
You build a road, you build a toll, you build a bridge, you build a toll, you build a building, you get rent, you build a school, you charge government fee's per student, you build a hospital, you get money from government for each action, basically anything you could build that would help the nation could be profited. It could be privately owned and charged directly to the customer, or it could be built and given to government in exchange for returns based on performance as well.
This is how it is done in my nation, our government basically just pays for others to do stuff, it is profitable for investors to make our nation better, of course the sad part is the fact that government only accepts offers from their own friends so only they get rich from it but it is still a great way to make the nation better. Our finances suck but our roads are amazing, that's the end result.