The loan is part of the bank's programme to help boost food security, nutrition and resilient farming across Africa, it said in a statement.
The worst drought in decades slashed Morocco's cereals output by 67% to 3.4 million tonnes this year.
French grain industry organisation Intercereales said last week Morocco's import needs of soft wheat are estimated at 5 million tonnes next year.
In the first seven months this year, Morocco's soft wheat import bill doubled to $1.6 billion compared to the same period last year, according to foreign exchange data.
($1 = 1.0260 euros)
(Reporting by Ahmed Eljechtimi; Editing by Emelia Sithole-Matarise)
